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Ivanhoe Mines
(TSX:IVN)
Ivanhoe Mines (IVN) vs. iShares MSCI Canada ETF (EWC)
Ivanhoe Mines Business Overview & Revenue Model
Ivanhoe Mines Earnings Call Summary
Ivanhoe Mines Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 392.82M | 40.82M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -10.28M | -8.64M | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 12.83M | -124.00M | -93.74M | -85.48M | -102.02M | -86.55M |
| Net Income | 318.68M | 228.13M | 318.93M | 410.86M | 55.24M | -19.88M |
Balance Sheet | ||||||
| Total Assets | 10.30B | 5.74B | 5.00B | 3.97B | 3.22B | 2.42B |
| Cash, Cash Equivalents and Short-Term Investments | 1.47B | 102.08M | 560.27M | 597.45M | 608.18M | 263.13M |
| Total Debt | 1.62B | 369.19M | 953.98M | 741.88M | 490.63M | 50.89M |
| Total Liabilities | 2.46B | 901.91M | 1.42B | 1.13B | 841.21M | 80.61M |
| Stockholders Equity | 8.07B | 4.99B | 3.70B | 2.93B | 2.49B | 2.44B |
Cash Flow | ||||||
| Free Cash Flow | -564.13M | -644.14M | -509.46M | 18.43M | -59.69M | -102.46M |
| Operating Cash Flow | -187.76M | -152.43M | -31.57M | 177.09M | -7.09M | -60.47M |
| Investing Cash Flow | -473.19M | -495.40M | -477.00M | -173.63M | -208.58M | -380.31M |
| Financing Cash Flow | 1.71B | 206.95M | 500.27M | -9.69M | 561.97M | 1.13M |
Ivanhoe Mines Technical Analysis
Ivanhoe Mines Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $33.68B | 28.44 | 4.88% | 0.78% | -29.29% | 178.41% | |
65 Neutral | C$33.68B | 28.50 | 4.99% | 0.78% | -29.29% | 178.41% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | C$23.04B | 52.40 | 5.71% | ― | ― | 97.71% | |
55 Neutral | C$2.98B | -133.10 | -2.00% | ― | ― | -103.83% | |
53 Neutral | C$4.31B | -35.41 | -131.76% | ― | ― | 44.04% | |
53 Neutral | $6.13B | -55.04 | -122.57% | ― | ― | -122.31% |
Ivanhoe Mines Corporate Events
Ivanhoe Mines reports that ramp-up of the Phase 1 concentrator at its Platreef Mine in South Africa is progressing according to plan following first concentrate production and an initial sale, with underground development advancing on multiple levels ahead of a major increase in hoisting capacity. Shaft #3 remains on schedule to be ready for hoisting in April 2026, which will lift total hoisting capacity from 0.8 million tonnes to about 5 million tonnes per year and support a Phase 2 expansion expected to boost annual production to roughly 450,000 ounces of platinum, palladium, rhodium and gold within 24 months. The company has secured a US$700 million senior project finance facility to fund Phase 2, as the Platreef metals basket now exceeds US$2,500 per ounce, supported by record copper and recovering nickel prices, and is underpinned by a very large, thick Flatreef orebody hosting tens of millions of ounces of precious metals that management believes will enable long-life, mechanized, lower-cost operations and may justify accelerating a potential third phase of expansion.
The most recent analyst rating on (TSE:IVN) stock is a Hold with a C$17.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines has produced the first copper anodes from its new 500,000-tonne-per-year direct-to-blister smelter at the Kamoa-Kakula complex in the Democratic Republic of the Congo, marking the start of ramp-up toward making it Africa’s largest copper smelter. The on-site facility, backed by a $1.1 billion investment and extensive commissioning work, will allow Kamoa-Kakula to process most of its own concentrate, reduce stockpiles and lift 2026 copper sales by around 20,000 tonnes above production, enabling the company to capture value from near-record copper prices; at the same time, dewatering at Kakula Mine Stage Two has been completed ahead of schedule and selective mining has resumed, while a major uninterruptible power system and large solar-plus-storage project aim to bolster reliability and sustainability of operations.
The most recent analyst rating on (TSE:IVN) stock is a Hold with a C$16.50 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines has announced its copper production guidance for the Kamoa-Kakula complex for 2026 and 2027, with expected outputs ranging from 380,000 to 420,000 tonnes and 500,000 to 540,000 tonnes, respectively. The company is making significant progress in its recovery and dewatering efforts at the Kakula Mine, which is expected to enhance production rates and improve copper grades. The establishment of the Kamoa-Kakula Copper Smelter will transition the complex from producing copper concentrate to copper anodes, positioning it as a major player in the global copper market. This transformation is anticipated to have a lasting impact on the company’s operations and its stakeholders.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$23.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines has commenced the heat-up of Africa’s largest and greenest copper smelter at its Kamoa-Kakula site, marking a significant milestone for the company and the Congolese mining industry. The smelter, which is expected to begin processing concentrate by the end of the year, represents a transformative step in sustainable copper production, with implications for the local community and the broader African continent.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$23.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines has announced key leadership changes, with Mark Farren transitioning to a Strategic Advisor role and Tom van den Berg being appointed as the new Chief Operating Officer. These changes are part of Ivanhoe’s strategic plan to enhance operational capabilities and support its next phase of growth, including the expansion of the Platreef Project and development of the Western Forelands. Additionally, Nick Popovic joins as a Strategic Advisor, bringing extensive industry experience, while Xianwen Wu replaces Manfu Ma on the board, signaling continued collaboration with CITIC Metal Group. These appointments are expected to strengthen Ivanhoe’s operational and strategic positioning in the mining industry.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$23.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines has successfully completed the ramp-up of the 178-megawatt Turbine #5 at the Inga II hydroelectric facility, providing an initial 50 megawatts of clean power to the Kamoa-Kakula Copper Complex. This power delivery is expected to increase to 100 megawatts by the first quarter of 2026 and 150 megawatts by 2027 as grid improvements are completed. This development marks a significant milestone in Ivanhoe’s partnership with the Democratic Republic of the Congo’s state utility, SNEL, in refurbishing renewable energy capacity, enhancing the company’s sustainable energy strategy and reducing reliance on non-renewable power sources.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines and the Qatar Investment Authority (QIA) have signed a memorandum of understanding (MoU) to collaborate on the exploration, development, and mining of critical minerals essential for global energy transition and advanced technologies. This agreement, following QIA’s recent $500 million investment in Ivanhoe Mines, aims to leverage QIA’s extensive network to support Ivanhoe’s growth projects, including the Western Forelands exploration in the DRC, and to explore future partnerships in mining projects across various development phases. The collaboration may involve strategic M&A, infrastructure development, and downstream processing of critical minerals, enhancing Ivanhoe Mines’ industry positioning and stakeholder value.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines announced the official opening of the Platreef Mine in Mokopane, South Africa, by President Cyril Ramaphosa. The mine, which is expected to be the largest for precious metals on the African continent, marks a significant milestone for the company and the local community, with substantial local employment and ownership. The event highlighted the mine’s potential to contribute to the region’s economic development and the importance of sustainable practices, as evidenced by the opening of the Masodi Wastewater Treatment Works.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines is set to inaugurate the Platreef Mine, a significant milestone for the company and South Africa’s mining industry. The mine, which is the world’s largest undeveloped precious metals mine, is expected to contribute significantly to South Africa’s industrial growth and economic potential. The opening coincides with major international events, highlighting South Africa’s role in the global economy. Ivanhoe Mines aims to expand the Platreef Mine into one of the world’s largest producers of platinum, palladium, rhodium, gold, nickel, and copper.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.
Ivanhoe Mines reported a Q3 2025 profit of $31 million and an adjusted EBITDA of $87 million, with significant contributions from the Kamoa-Kakula Copper Complex. The company is advancing several key projects, including the completion of Stage Two dewatering at Kakula Mine, the startup of Africa’s largest copper smelter, and the commissioning of a 178-megawatt turbine at Inga II. Additionally, the Platreef Mine has begun processing ore, and Kipushi has achieved record zinc production. These developments position Ivanhoe Mines as a major player in the production of critical metals, with plans to significantly increase copper production and expand its operations.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Ivanhoe Mines stock, see the TSE:IVN Stock Forecast page.