Ivanhoe Mines Ltd. (IVN.TO) stock analysis

In our weekly check, Ivanhoe Mines Ltd. is graded C (A to F). Of 23 checks on debt, profit, cash flow and trend: 12 pass, warnings: 3, red flags: 8.

About Ivanhoe Mines Ltd.

Ivanhoe Mines Ltd. is a Basic Materials company (Industrial Materials) based in Canada, listed on TSX as IVN.TO.

What our checks show for IVN.TO

Red flags

• Operating profit does not cover the interest bill (0.6x): interest is paid from cash or new debt.
• Operating cash flow is negative while the company reports a profit: the profit does not arrive as cash.
• Free cash flow is negative (-79.5% of revenue): the business spends more cash than it brings in.
• The price swings a lot: 59.3% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 90% from a peak. Would you have held through that?
• Beta 1.78: the stock usually moves more than the market, both up and down.
• Return on capital (ROCE) is only 0.3%.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Earnings per share fell 34.1% a year over the last 3 years.
• Net profit fell 30.7% a year over the last 3 years.
• The share count grew by 11.7% in 2 years: each shareholder owns a smaller slice.

Strengths

• The net margin rose by 23.5 points over 5 years, to 23.5%.
• The gross margin is 9.4% and has risen by 9.4 points: pricing power is holding.
• Analysts expect earnings per share to grow about 109% a year over the next years.
• Analysts expect revenue to grow about 44.8% a year over the next years.
• Analysts expect the net margin to improve by 31.1 points from today's 23.5%.
• The company keeps 23.5% of its revenue as net profit.

Next earnings report: 2026-11-03

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Questions

What grade does Ivanhoe Mines Ltd. (IVN.TO) have?

In our weekly check, Ivanhoe Mines Ltd. is graded C (A to F). Of 23 checks on debt, profit, cash flow and trend: 12 pass, warnings: 3, red flags: 8. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of IVN.TO stock?

This week's biggest flags for Ivanhoe Mines Ltd.: Weak interest cover, Profits not backed by cash, Weak free cash flow. In total 11 of 23 checks show a warning or a red flag.

What does Ivanhoe Mines Ltd. do?

Ivanhoe Mines Ltd. is a Basic Materials company (Industrial Materials) based in Canada, listed on TSX as IVN.TO.

When does Ivanhoe Mines Ltd. report earnings next?

The next earnings report is expected on 2026-11-03. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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