Latest news with #IvanhoeMines
Yahoo
5 days ago
- Business
- Yahoo
Canadian copper miner Ivanhoe's slumping stock slashed by analysts
Canadian copper producer Ivanhoe Mines ( may face a long recovery in the Democratic Republic of Congo (DRC), where underground seismic activity and severe flooding at its Kakula mine recently halted work for 20 days. That's the chief concern among analysts cutting their price targets on the stock in response to weaker 2025 production guidance from the company last week. Toronto-listed Ivanhoe shares have not recovered from a nearly 20 per cent slump following the Vancouver-headquartered company's announcement on May 20 that mining operations were temporarily suspended at its Kakula underground mine two days earlier. Ivanhoe says it restarted the western portion of the copper mine on June 7, and now expects between 370,000 and 420,000 tonnes of copper from its Kamoa-Kakula Copper Complex this year. That's down from previous guidance of between 520,000 and 580,000 tonnes. 'This is a big setback. However, we believe the mine can recover and we should get more clarity on the long-term impact within the next six to nine months,' RBC Capital Markets analyst Sam Crittenden wrote in a note to clients on Monday. He cut his price target on TSX-listed Ivanhoe shares to $15 from $24. 'We believe the shares are already reflecting a lot of the downside risk, so we keep our Outperform, speculative risk rating,' Crittenden added. On Friday, BMO Capital Markets analyst Andrew Mikitchook called the restart of operations at Kakula an 'important step.' However, he lowered his price target on the stock to $21 from $24, citing challenges ahead for the Canadian miner. 'In our opinion, there will clearly be some impact on the pace of mining the highest-grade mineralization in the medium to long term,' Mikitchook wrote in a research report. The Kamoa-Kakula Copper Complex is Africa's largest copper-producing operation. Majority ownership is split between Ivanhoe and China's Zijin Mining, at 39.6 per cent each. The DRC government holds a 20 per cent stake. Ivanhoe shares fell 1.68 per cent to $10.52 as at 11:41 a.m. ET on Tuesday. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
14-06-2025
- Business
- Business Insider
Ivanhoe Mines (IVPAF) Gets a Buy from TD Securities
In a report released today, Craig Hutchison from TD Securities maintained a Buy rating on Ivanhoe Mines (IVPAF – Research Report), with a price target of C$13.00. The company's shares opened today at $7.36. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Hutchison covers the Basic Materials sector, focusing on stocks such as Ivanhoe Mines, Trilogy Metals, and Lundin Mining. According to TipRanks, Hutchison has an average return of 21.9% and a 58.26% success rate on recommended stocks. Ivanhoe Mines has an analyst consensus of Strong Buy, with a price target consensus of $12.66, which is a 72.01% upside from current levels. In a report released today, BMO Capital also maintained a Buy rating on the stock with a C$21.00 price target. IVPAF market cap is currently $10.7B and has a P/E ratio of 23.15. Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IVPAF in relation to earlier this year.
Bloomberg
12-06-2025
- Business
- Bloomberg
Flooding at Ivanhoe Copper Mine Was Self-Induced, Study Suggests
Seismic activity that disrupted output at a massive copper mine in the Democratic Republic of Congo appears self-induced, according to preliminary findings released by operator Ivanhoe Mines Ltd. The incident last month, which flooded parts of the Kamoa-Kakula mine, began in an area where a 'mature percentage' of ore had already been extracted, the company said in a Wednesday filing.
Yahoo
12-06-2025
- Business
- Yahoo
Ivanhoe Mines rating cut after 'materially weaker than anticipated update'
-- Scotiabank analysts downgraded Ivanhoe Mines (OTC:IVPAF) to Sector Perform from Sector Outperform in a note Thursday, following a "materially weaker than anticipated update pertaining to the company's flagship Kamoa-Kakula Cu complex in the DRC." The rating cut is primarily driven by "significant uncertainty on the future operating outlook" after preliminary geotechnical findings indicated that recent seismic activity at Kakula "appears self-induced by mining." While Ivanhoe Mines has implemented a short-term mine plan, it includes "substantially weaker 2025 Cu guidance of 370-420kt (vs. 520-580kt previously and our estimate of 440kt)." More critically, Scotiabank (TSX:BNS) notes that the "medium to long-term mine plan at the complex has been placed under review." Overall, the analysts "anticipate a future revised LOM operating plan (including Kakula) that is still very economic due to grade, but is likely based on lower mining rates, lower reserves, and higher costs." Given the remaining significant uncertainty, Scotiabank has reduced its corporate 10% NAVPS. by "another C$2.02 per share or by 19% based on a materially weaker outlook." Their asset-level Kamoa-Kakula 10% NAVPS declined by 27%. As a result of these revised expectations, Scotiabank has lowered its 12-month target price for Ivanhoe Mines to C$12.00 per share compared to the previous C$16.00 target." The new target is said to be based on "1.4x (vs. 1.5x previously) our 10% NAVPS estimate." Related articles Ivanhoe Mines rating cut after 'materially weaker than anticipated update' Morgan Stanley lifts XPeng target after G7 launch draws early interest Moderna explores outside financing for vaccine trials, shares dip
Globe and Mail
12-06-2025
- Business
- Globe and Mail
TSX Futures Fall Amid MidEast Tensions
Futures linked to Canada's main stock index fell on Thursday as optimism over tame U.S. inflation figures waned, while escalating tensions in the Middle East prompted investors to adopt a more cautious stance. The TSX Composite Index progressed 97.85 points to end Wednesday at 26,524.16. The index had reached a record closing high on Wednesday after U.S. consumer prices rose less than expected in May, boosting prospects for Federal Reserve interest rate cuts in coming months. Futures were down 0.3% Thursday. The Canadian dollar gained 0.17 cents to 73.34 cents U.S. In corporate news, Ivanhoe Mines said it had resumed underground mining in part of its Kakula copper mine in the Democratic Republic of Congo, which had been closed due to seismic activity, but lowered its output forecast for the year. ON BAYSTREET The TSX Venture Exchange sank 8.6 points, or 1.2%, Tuesday to 717.30. ON WALLSTREET Stock futures fell early Thursday after the S&P 500 saw its first negative session in four, pressured by a slide in Boeing shares following a crash in India. Futures for the Dow Jones Industrials stumbled 263 points, or 0.6%, to 42,645. Futures for the S&P 500 index retreated 29.5 points, or 0.5%, to 5,999.50. Futures for the NASDAQ let loose 94 points, or 0.4%, to 21,793.50. Dow component Boeing lost more than 7% in premarket trading after an Air India Dreamliner 787 crashed after takeoff with 242 passengers on board. The cause of the crash is unknown, and authorities said the injured are being treated. Shares of Oracle surged more than 7% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines and indicated more cloud growth ahead. Wednesday marked a losing session on Wall Street, with the S&P 500 snapping its three-day win streak, as did the NASDAQ. But the moves were slight. While the day's losses put the S&P 500 a bit further away from reaching a new record high, the index is also still just more than 2% below its late February record. The previous session's losses come after consumer prices rose less than expected in May. Investors are now looking ahead to May's reading of the producer price index, due out at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones are expecting the index to show a gain of 0.2% for the period. Subtracting out food and energy, core PPI is expected to show growth of 0.3% on the month. Wall Street is also waiting for more developments on trade, especially between the U.S. and China, as talks between the two countries have been a focal point this week. While officials reached an agreement in London, the deal still awaits approval from U.S. President Donald Trump and Chinese President Xi Jinping. In Japan, the Nikkei 225 index dropped 0.7% Thursday, while in Hong Kong, the Hang Seng backpedaled 1.4% Oil prices docked $1.22 to $66.93 U.S. a barrel. Gold prices marched $62.10 to $3,495,80 U.S. an ounce.
