Stifel lifts Ivanhoe's PT after visit to Kakula mine; shares rise

Ivanhoe Mines

24/09/2025 14:59

** Stifel raises price target on Canadian mining company Ivanhoe Mines IVN.TO to C$16 from C$13.5

** Shares of IVN up 10% at $14.43

** New price target represents a 22% upside to the stock's last close

** Brokerage raises PT based on positive takeaways from its site visit to Kakula underground mine, citing progress in dewatering, rehab work, and management’s recovery plan

** Brokerage sees long-term upside for Ivanhoe ahead of Integrated Development Plan 2026 for Kamoa-Kakula Copper Complex, backed by plant outperformance and expected resource upgrades

** Kamoa-Kakula copper mine in the Democratic Republic of Congo is one of the world's largest high-grade copper deposits

** 14 of 15 brokerages rate the stock "buy" or higher, 1 "hold"; their median PT is C$15 - data compiled by LSEG

** Including session's moves, stock down 14.3% YTD

 (Reporting by Dharna Bafna)

 ((Dharna.bafna@thomsonreuters.com))