FY2024 EPS Estimates for Ivanhoe Mines Cut by Scotiabank

Ivanhoe Mines Ltd. (TSE:IVN) – Analysts at Scotiabank decreased their FY2024 earnings per share (EPS) estimates for Ivanhoe Mines in a report issued 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 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 Stock Performance

Shares of IVN opened at C$16.92 on Thursday. The company has a market capitalization of C$22.84 billion, a PE ratio of 105.75 and a beta of 1.94. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. The company’s 50 day moving average price is C$18.30 and its 200 day moving average price is C$18.19. Ivanhoe Mines has a 52 week low of C$12.94 and a 52 week high of C$21.32.

Insider Buying and Selling at Ivanhoe Mines

In other news, Director Martie Cloete sold 2,800 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$18.56, for a total transaction of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total value of C$1,145,472.00. Insiders have sold 68,088 shares of company stock worth $1,292,379 over the last 90 days. 44.96% of the stock is currently owned by corporate 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.