Scotiabank upgrades Ivanhoe Mines to 'outperform', raises PT

Ivanhoe Mines

29/09/2025 13:48

** Scotiabank upgrades rating on Canadian mining company Ivanhoe Mines IVN.TO to "outperform" from "sector perform"; raises price target to C$17 from C$12.5

     ** The new price target represents a 20.4% upside to the stock's last close

** Brokerage upgrades rating post Kamoa-Kakula site visit  as it now sees an achievable pathway for the complex to yield "markedly improved copper output" of ~500kt in 2027

** Scotiabank says it is "now significantly more comfortable with the outlook for the operation"

** 14 of 15 brokerages rate the stock "buy" or higher, 1 "hold"; their median PT is C$15.5

** As of last close, stock down 17.23% YTD

 (Reporting by Dharna Bafna)

 ((Dharna.bafna@thomsonreuters.com))