Ivanhoe Mines Ltd (IVN) Fair Value & Analysis
Basic Materials · CA · Market cap C$14.2B
Fair value as of: Aug 13, 2026
From 11 valuation models · updated today
Fair value updated Aug 13, 2026, revised from C$3.17 to C$3.16 (−0.3%) since Jul 18, 2026. Share price +7.3% over the past month.
Below-average quality, and screening another 73% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (C$3.95). 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 13, 2026.
How to read this chart
60‑month range C$6.57 – C$21.28 · fair‑value band C$2.95 – C$3.95 · the C$11.57 price screens above the C$3.16 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Ivanhoe Mines Ltd (IVN) currently trades at C$11.57, while our model-based Fair Value estimate is C$3.16, implying the stock looks roughly 72.7% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Ivanhoe Mines Ltd 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 13, 2026
Our scenario range runs from C$2.95 (bear case) to C$3.95 (bull case); at C$11.57, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -42% fair-value upside, at -73%, IVN screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 11 models by family
Widest divergence: Growth Earnings (C$8.03) versus Multiples (C$0.4700). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 18
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.
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
Ivanhoe Mines Ltd reported revenue of C$449M in FY2025 versus C$0 in FY2021. Reported net income was C$266M in FY2025, compounding +48.2%/yr from FY2021.
IVN screens 73% overvalued. Compare with BHP Group →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Ivanhoe Mines Provides Clarification to Reuters' Article Announcing the Ban of Copper and Cobalt Concentrate Exports from the DRC
- Ivanhoe Mines Q2 Earnings Call Highlights
- Ivanhoe Mines Ltd (IVPAF) (Q2 2026) Earnings Call Highlights: Record Zinc Output and Strong ...
- Ivanhoe Mines (TSX:IVN) Stock Still Trades At A Premium After A 34% Fall
Peer Group
Other Industrial Metals & Mining · 480 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
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHPN | 1,425 MXN | 745.46 MXN | -48% |
| Rio Tinto Group RIO | A$179.43 | A$81.76 | -54% |
| Grupo México, S.A. GMEXICOB | 222.38 MXN | 172.99 MXN | -22% |
| Vale S.A VALEN | 250.00 MXN | 139.41 MXN | -44% |
| Saudi Arabian Mining Company 1211 | 58.05 SAR | 33.87 SAR | -42% |
| CMOC Group 603993 | ¥19.00 | ¥19.80 | +4% |
| China Tungsten And Hightech Materials Co 000657 | ¥70.43 | ¥9.55 | -86% |
| Hindustan Zinc Limited HINDZINC | ₹584.60 | ₹501.98 | -14% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | -74% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | -13% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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