Ivanhoe Mines (TSE:IVN) Price Target Raised to C$24.00

Ivanhoe Mines (TSE:IVN) had its price target lifted by Raymond James from C$21.00 to C$24.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 27.80% from the company’s current price. Raymond James also issued estimates for Ivanhoe Mines’ Q3 2024 earnings at $0.07 EPS.

Several other research firms have also recently issued reports on IVN. BMO Capital Markets lifted their target price on shares of Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group set a C$25.00 price target on Ivanhoe Mines and gave the stock a “buy” rating in a report on Friday, May 3rd. Scotiabank boosted their price objective on shares of Ivanhoe Mines from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Canaccord Genuity Group increased their target price on shares of 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. Finally, TD Securities lifted their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Buy” and an average target price of C$22.72.

Ivanhoe Mines Price Performance

TSE IVN traded down C$0.61 on Thursday, hitting C$18.78. The company had a trading volume of 2,249,022 shares, compared to its average volume of 2,350,678. The company has a debt-to-equity ratio of 18.77, a current ratio of 0.42 and a quick ratio of 20.86. The company has a market capitalization of C$23.85 billion, a PE ratio of 99.11 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 company’s fifty day moving average price is C$18.23 and its 200-day moving average price is C$14.88.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06). As a group, analysts predict that Ivanhoe Mines will post 0.5209327 earnings per share for the current year.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. In other news, Senior Officer Mary Vincelli sold 5,000 shares of the business’s 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. Also, Director Setha Patricia Makhesha sold 3,295 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. Company insiders own 50.84% 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.