Ivanhoe Mines (TSE:IVN) Releases Quarterly Earnings Results

Ivanhoe Mines (TSE:IVN) released its quarterly earnings results on Tuesday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. Ivanhoe Mines had a net margin of 21.51% and a return on equity of 2.61%. The business had revenue of C$375.60 million for the quarter.

Ivanhoe Mines Price Performance

Shares of IVN stock opened at C$8.45 on Thursday. Ivanhoe Mines has a 52-week low of C$7.64 and a 52-week high of C$20.34. The stock has a market cap of C$12.05 billion, a PE ratio of 93.89 and a beta of 1.60. The company has a debt-to-equity ratio of 3.54, a quick ratio of 20.86 and a current ratio of 2.21. The firm’s 50 day moving average price is C$11.27 and its two-hundred day moving average price is C$12.24.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IVN shares. Canaccord Genuity Group increased their price objective on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Raymond James Financial dropped their target price on Ivanhoe Mines from C$15.50 to C$12.00 and set a “market perform” rating for the company in a research report on Wednesday. Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and upped their price target for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. TD Securities lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus cut Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$17.00 to C$12.50 in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Ivanhoe Mines currently has an average rating of “Hold” and an average target price of C$13.77.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.