FY2024 EPS Estimates for Ivanhoe Mines Cut by Scotiabank

Ivanhoe Mines Ltd. (TSE:IVN) – Scotiabank cut their FY2024 earnings per share estimates for shares of Ivanhoe Mines in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings of $0.34 per share for the year, down from their previous forecast of $0.35. Scotiabank currently has a “Outperform” rating and a $20.00 price objective on the stock. The consensus estimate for Ivanhoe Mines’ current full-year earnings is $1.01 per share. Scotiabank also issued estimates for Ivanhoe Mines’ FY2025 earnings at $0.63 EPS.

IVN has been the topic of a number of other reports. Raymond James dropped their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Thursday. TD Securities dropped their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research note on Thursday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$24.00.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$17.19 on Thursday. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24. The company’s fifty day simple moving average is C$18.26 and its 200 day simple moving average is C$18.18. Ivanhoe Mines has a 1-year low of C$12.94 and a 1-year high of C$21.32. The company has a market cap of C$23.21 billion, a price-to-earnings ratio of 107.44 and a beta of 1.94.

Insider Activity at Ivanhoe Mines

In related news, Director Jinghe Chen sold 60,288 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total value of C$1,145,472.00. Also, Director Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$18.56, for a total transaction of C$51,968.00. Insiders sold 68,088 shares of company stock worth $1,292,379 in the last ninety days. 44.96% of the stock is owned by company insiders.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.