Ivanhoe Mines (TSE:IVN) Posts Quarterly Earnings Results

Ivanhoe Mines (TSE:IVN) issued its quarterly earnings results on Tuesday. The company reported C$0.06 earnings per share (EPS) for the quarter, FiscalAI reports. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. The business had revenue of C$375.60 million for the quarter.

Ivanhoe Mines Price Performance

TSE IVN traded down C$0.12 on Tuesday, hitting C$8.88. 4,547,805 shares of the company’s stock were exchanged, compared to its average volume of 4,407,124. The stock has a 50-day moving average of C$11.35 and a 200-day moving average of C$12.28. The company has a current ratio of 2.16, a quick ratio of 20.86 and a debt-to-equity ratio of 21.70. Ivanhoe Mines has a 52 week low of C$8.88 and a 52 week high of C$20.34. The stock has a market cap of C$12.67 billion, a price-to-earnings ratio of 98.67 and a beta of 1.60.

Analysts Set New Price Targets

A number of research analysts recently commented on IVN shares. Morgan Stanley upgraded Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from C$12.00 to C$13.20 in a research report on Wednesday, July 8th. Stifel Nicolaus upped their price objective on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Scotia increased their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Wednesday, September 9th. Finally, Canaccord Genuity Group raised their target price on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Moderate Buy” and an average target price of C$14.72.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.