Raymond James Boosts Ivanhoe Mines (TSE:IVN) Price Target to C$24.00

Ivanhoe Mines (TSE:IVN) had its target price hoisted by Raymond James from C$21.00 to C$24.00 in a report released on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Ivanhoe Mines’ Q2 2024 earnings at $0.03 EPS, Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.48 EPS.

IVN has been the subject of several other reports. Royal Bank of Canada lifted their target price on Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Eight Capital increased their target price on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Jefferies Financial Group set a C$25.00 price target on shares of Ivanhoe Mines and gave the stock a buy rating in a research note on Friday, May 3rd. TD Securities increased their price objective on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a buy rating in a research note on Wednesday, February 28th. Finally, Canaccord Genuity Group boosted their target price on Ivanhoe Mines from C$22.00 to C$24.00 and gave the stock a buy rating in a research note on Monday, May 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of C$22.72.

Ivanhoe Mines Stock Up 2.5 %

Shares of TSE:IVN opened at C$19.39 on Thursday. The company has a market capitalization of C$24.63 billion, a price-to-earnings ratio of 102.05 and a beta of 1.98. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$21.32. The business has a 50-day moving average price of C$18.35 and a 200 day moving average price of C$15.03. The company has a current ratio of 0.42, a quick ratio of 20.86 and a debt-to-equity ratio of 18.77.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.06). Sell-side analysts expect that Ivanhoe Mines will post 0.4653228 EPS for the current year.

Insider Buying and Selling

In other news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total transaction of C$77,350.00. In related news, Director Setha Patricia Makhesha sold 3,295 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. 50.86% of the stock is owned by company insiders.

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.