Analysts Offer Predictions for Ivanhoe Mines FY2024 Earnings

Ivanhoe Mines Ltd. (TSE:IVN) – Investment analysts at Scotiabank decreased 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 anticipates that the company will earn $0.34 per share for the year, down from their previous estimate of $0.35. Scotiabank has a “Outperform” rating and a $22.00 price target 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.

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$16.92 on Thursday. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. 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 capitalization of C$22.84 billion, a price-to-earnings ratio of 105.75 and a beta of 1.94. The business has a 50-day moving average of C$18.30 and a 200-day moving average of C$18.19.

Insider Buying and Selling

In other Ivanhoe Mines news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Also, Director Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$18.56, for a total value of C$51,968.00. In the last ninety days, insiders have sold 68,088 shares of company stock valued at $1,292,379. Corporate insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

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.