IVN.TO (IVN) Fair Value & Analysis
Basic Materials · CA · Market cap C$14.2B (≈ $10.3B) · ISIN CA46579R1047
What is IVN.TO really worth?
Below-average quality, and trading another 191% above our fair value of C$4.00.
Strengths
Risks
Fair value as of: Aug 20, 2026
From 11 valuation models · updated 16 days ago
Fair value updated Aug 20, 2026, revised from C$3.16 to C$4.00 (+26.6%) since Aug 13, 2026. Share price +7.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (C$4.00). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range C$6.57 – C$21.28 · the C$11.66 price screens above the C$4.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.
Analysis
IVN.TO (IVN) currently trades at C$11.66, while our model-based Fair Value estimate is C$4.00, implying the stock looks roughly 191.5% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of C$8.03 per share, and 0 of the 10 models we run sit above the C$11.66 price. Bear case: the Multiples group reads lowest at C$0.4700, and 10 of the 10 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, IVN.TO generated revenue of C$530M at a net margin of 24.9%. Revenue grew 114.9% year over year. It earns a return on equity of 2.0%. Net debt stands at C$491M. Fundamentals as of Aug 20, 2026
The share trades about 43% below its 52-week high and 33% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −37% fair-value upside, at −66%, IVN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$0.0815 per share, which is 2.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 11 models by family
Widest divergence: Growth Earnings (C$8.03) versus Multiples (C$0.4700). Highest evidence: Residual Income (68).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 19
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Ivanhoe Mines Ltd., together with its subsidiaries, engages in the mining, development, and exploration of minerals and precious metals in Africa. The company explores gold, platinum, palladium, rhodium, nickel, copper, zinc, germanium, silver, and lead deposits.
Full company description
Ivanhoe Mines Ltd., together with its subsidiaries, engages in the mining, development, and exploration of minerals and precious metals in Africa. The company explores gold, platinum, palladium, rhodium, nickel, copper, zinc, germanium, silver, and lead deposits. Its projects include the Kamoa-Kakula Copper Complex mine located in the Central African Copperbelt; the Kipushi Zinc mine in Southern Haut-Katanga Province, Democratic Republic of Congo; and the Platreef PGM-Nickel mine located in the Northern Limb of South Africa's Bushveld Igneous Complex. It also holds interest in the Western Foreland exploration project covering an area of approximately 2,390 square kilometers located in the Democratic Republic of Congo. The company was formerly known as Ivanplats Limited and changed its name to Ivanhoe Mines Ltd. in August 2013. The company was incorporated in 1993 and is based in Vancouver, Canada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
IVN.TO reported revenue of $449M in FY2025 versus $0 in FY2021. Reported net income was $266M in FY2025, compounding +48.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
IVN screens 191% overvalued. Compare with BHP Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Ivanhoe Mines (TSX:IVN) Stock Still Trades At A Premium After A 34% Fall
- Ivanhoe Mines (TSX:IVN) Could Be 81% Undervalued Following Latest Earnings
Peer Group
Other Industrial Metals & Mining · 469 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHP | A$66.84 | A$42.16 | −37% |
| Vale S.A VALE | $15.31 | $8.95 | −42% |
| Saudi Arabian Mining Company 1211 | 65.50 SAR | 33.87 SAR | −48% |
| CMOC Group 603993 | ¥18.42 | ¥16.15 | −12% |
| Teck Resources Limited TECK | $69.34 | $32.02 | −54% |
| Hindustan Zinc Limited HINDZINC | ₹573.00 | ₹508.34 | −11% |
| China Tungsten And Hightech Materials Co 000657 | ¥66.76 | ¥9.55 | −86% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | −74% |
| Western Mining Co 601168 | ¥37.85 | ¥25.99 | −31% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | −13% |
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