Analyst Andrew Mikitchook of BMO Capital maintained a Buy rating on Ivanhoe Mines (IVPAF – Research Report), retaining the price target of C$24.00.
Andrew Mikitchook has given his Buy rating due to a combination of factors including Ivanhoe Mines’ impressive production performance and strategic advancements. The company’s Kamoa-Kakula copper mine is operating at near-record production levels, with January and February 2025 figures showing strong outputs that align with the annual guidance. Additionally, the Kipushi zinc mine is ramping up effectively, nearing its annual production targets with high recovery rates.
Furthermore, Ivanhoe Mines has made significant progress in securing reliable power solutions, which are crucial for sustaining and expanding its operations. The recent market volatility has led to a dip in Ivanhoe’s share price, presenting an attractive opportunity for investors to gain exposure to a company with a portfolio of undervalued, world-class assets. Mikitchook anticipates a revaluation of the company’s stock as it continues to expand its high-margin production capabilities.
In another report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$23.00 price target.