Raymond James analyst Farooq Hamed maintained a Buy rating on Ivanhoe Mines (OTC:IVPAF) on Wednesday, setting a price target of C$5, which is approximately 61.81% above the present share price of $3.09.
Hamed expects Ivanhoe Mines to post earnings per share (EPS) of -$0.01 for the third quarter of 2020.
The current consensus among 3 TipRanks analysts is for a Strong Buy rating of shares in Ivanhoe Mines, with an average price target of $5.52.
The analysts price targets range from a high of $6.63 to a low of $4.79.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $0 and a net profit of -$25.8 million. The company's market cap is $3.59 billion.
According to TipRanks.com, Raymond James analyst Farooq Hamed is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -12.5% and a 34.85% success rate.
Ivanhoe Mines Ltd. is a mining development company, which engages in the exploration and development of mineral properties. Its projects include Platreef Project, Kamao-Kakila Project, Western Foreland Project, and Kipushi Project. The company was founded by Robert Martin Friedland on April 29, 1993 and is headquartered in Vancouver, Canada.