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TSX · Other Industrial Metals & Mining · CAD

Ivanhoe Mines Ltd. (IVN.TO) Stock Analysis

Ivanhoe Mines Ltd. (IVN.TO) is a Other Industrial Metals & Mining stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

IVN.TO

CA$9.53

−CA$0.63 (−6.20%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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IVN.TO Key Statistics

As of Oct 21, 2026
Trading
Open
CA$10.17
Previous Close
CA$10.16
Day's Range
9.52–10.22
52-Week Range
9.45–20.34
Volume
7.68M
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
1.78
Valuation
Market Cap
CA$13.59B
P/E Ratio
79.42
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
16.02
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
23.20
EPS (ttm)Profit attributable to each share over the last twelve months.
0.12
Financials (FY)
Revenue (FY)
CA$441.62M+981.91%
Net Income (FY)
CA$261.56M+14.65%
Profit marginThe share of revenue left as profit after all costs and taxes.
23.47%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
1.43B
1-Year Return
−33.82%
Dividend and dates
Earnings Date
November 3, 2026
Avg Volume
3.96M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, IVN.TO closed at CA$9.53, −33.82% over 1 year.

Ivanhoe Mines Ltd. (IVN.TO) has a market capitalization of CA$13.59B.

In fiscal 2025, IVN.TO reported revenue of CA$441.62M.

IVN.TO Stock Return by Calendar Year

Ivanhoe Mines Ltd. (IVN.TO) 10-year return: what CA$10,000 became

1 year
CA$10,000 CA$6,618
−33.82%
5 years
CA$10,000 CA$9,815
−1.85%
10 years
CA$10,000 CA$40,901
+309.01%

If you had invested CA$10,000 in Ivanhoe Mines Ltd. (IVN.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$40,901 at the close on October 21, 2026: +309.01% in total, +15.13% a year. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)−38.95%
2025−8.50%
2024+32.76%
2023+20.09%
2022+3.68%
2021+50.44%
2020+61.41%
2019+79.32%
2018−44.10%
2017+66.93%
2016 (partial year)+70.47%

As of October 21, 2026.

IVN.TO Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025CA$441.62MCA$261.56M59.2%
2024CA$40.82MCA$228.14M558.9%
2023CA$0.00CA$318.93M—
2022CA$0.00CA$410.86M—
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025CA$441.62MCA$16.96M−CA$93.43MCA$261.56M59.2%
2024CA$40.82M−CA$10.75M−CA$133.03MCA$228.14M558.9%
2023CA$0.00CA$0.00−CA$92.73MCA$318.93M—
2022CA$0.00−CA$33.91M−CA$95.36MCA$410.86M—

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

IVN.TO Valuation vs Other Industrial Metals & Mining Median

Median of 103 stocks
MetricIVN.TOOther Industrial Metals & Mining medianvs median
P/E79.4218.234.4x the median
P/S ratio23.2013.4073% above
Profit margin23.47%3.53%19.9 pts above

Medians across 103 Other Industrial Metals & Mining stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

The market values Ivanhoe Mines Ltd. (IVN.TO) at CA$13.59B. It is classified in the Other Industrial Metals & Mining industry, within the Basic Materials sector.

IVN.TO last closed at CA$9.53 on October 21, 2026. That is −CA$0.63 (−6.20%) against the previous close. Over the past 52 weeks the price has ranged from CA$9.45 to CA$20.34. The latest close sits 0.85% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to CA$441.62M. That is +981.91% against the prior fiscal year, when revenue was CA$40.82M. Net income for the same year was CA$261.56M. That is +14.65% against the prior fiscal year. The reported profit margin is 23.47%. That is 19.9 percentage points above the Other Industrial Metals & Mining median of 3.53%. Trailing earnings per share are 0.12.

Across the 4 fiscal years on file, revenue moves from CA$0.00 in 2022 to CA$441.62M in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

IVN.TO trades at a trailing price-to-earnings ratio of 79.42. That is 4.4 times the Other Industrial Metals & Mining median of 18.23. The forward P/E on file is 16.02. Measured against sales, the shares trade at 23.2 times revenue. On price-to-sales that is 73.16% above the Other Industrial Metals & Mining median of 13.4. The medians here are taken across 103 Other Industrial Metals & Mining companies that report the metric.

The trailing one-year total return is −33.82%. Measured over 10 years, that is +15.13% a year compounded. The reported beta is 1.78. Daily returns over the trailing 10 years annualize to a volatility of 53.36%.

Growth & Income

The record shows no dividend for IVN.TO.

The strongest complete calendar year on file is 2019 at +79.32%; the weakest is 2018 at −44.10%. Of the 9 complete calendar years on file, 7 finished higher. 2026 is still running; the total return is −38.95% year to date.

Peer Comparison

Ivanhoe Mines Ltd. (IVN.TO) operates in the Other Industrial Metals & Mining industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
Ivanhoe Mines Ltd. IVN.TO CA$13.59B 79.4
BHP Group Limited BHP $211.50B 21.6
Rio Tinto Group RIO $141.37B 11.8
Vale S.A. VALE $54.05B 25.4

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Other Industrial Metals & Mining industry average P/E ratio is 18.2x. Ivanhoe Mines Ltd. trades at a P/E of 79.4.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Ivanhoe Mines Ltd.

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.

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