Ivanhoe Mines reports after the market closes on November 3. Analysts expect earnings to rise from a year ago, but the company’s recent results show why investors should keep expectations in check.
Ivanhoe Mines Ltd. (TSX: IVN) is scheduled to report results for the quarter ended September 30, 2026, after the market closes on November 3. One earnings calendar lists an estimate of C$0.06 per share. A separate earnings-trends feed puts consensus at C$0.07, with estimates ranging from C$0.05 to C$0.09 among six analysts. That feed also estimates revenue of US$231.72 million, up 79.1% year over year, based on one analyst.
Recent earnings trend
Ivanhoe Mines Ltd.
IVN.TO
IVN.TO
Ivanhoe Mines Ltd.
WealthAwesomeMarket cap
$12.89B
P/E
69.5x
52W high
$20.34
52W low
$8.89
1W change
-1.31%
Beta
1.78
Analyst Price Targets
Based on analyst covering IVN · as of Nov 2, 2026
Wall Street analysts forecast IVN stock price to rise 66.9% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$15.09
+66.9% Upside
Previously C$15.09 on Oct 30, 2026
Current Price
C$9.04
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on IVN's historical volatility
30-Day Vol
49.1%
Annualized
90-Day Vol
56.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$7.56
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$8.52 | C$7.19 – C$10.09 |
| 60 trading days | C$8.03 | C$6.32 – C$10.20 |
| 90 trading days | C$7.56 | C$5.64 – C$10.14 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 6 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-03 | — | 0.0600 | — |
| 2026-06-30 | 2026-07-28 | 0.0400 | 0.0500 | -20.0% |
| 2026-03-31 | 2026-05-06 | -0.0050 | 0.0500 | -110.0% |
| 2025-12-31 | 2026-02-18 | 0.0400 | 0.0400 | +0.0% |
| 2025-09-30 | 2025-10-29 | 0.0200 | 0.0100 | +100.0% |
| 2025-06-30 | 2025-07-30 | 0.0300 | 0.0400 | -25.0% |
The forecasts point to strong annual growth, but Ivanhoe beat earnings estimates in only one of its last four comparable quarters. Investors can follow the company on the Ivanhoe Mines stock page as they assess what the report says about its copper-led growth plans.
Investor takeaway: The November 3 report will show whether earnings growth is keeping pace with expectations and whether the quarter supports Ivanhoe’s longer-term project pipeline. The earnings-trends feed’s EPS consensus has fallen from C$0.09 to C$0.07 over the past 30 days. Its revision count shows one upward revision and no downward revisions. That combination makes the reported figure worth watching, but it doesn’t tell us whether Ivanhoe is likely to beat estimates.
In the last four comparable quarters, Ivanhoe beat estimates once, matched them once and missed twice. Canadian investors should look beyond headline EPS. Revenue, operating performance and management’s comments on project execution will help put the results in context.
C$0.07 EPS consensus, down from C$0.09
The earnings-trends feed’s consensus for the September quarter is C$0.07, based on six analysts. That’s down C$0.02 over the past 30 days. The feed gives a range of C$0.05 to C$0.09, while a separate earnings calendar lists C$0.06. These are estimates, not reported results. The difference is a reminder to check which data source you’re using.
Bull case
The consensus points to a sharp year-over-year increase in earnings and revenue. The earnings-trends estimate of C$0.07 is more than three times the year-ago EPS of C$0.02. Its revenue estimate implies 79.1% growth.
Ivanhoe’s business includes the Kamoa-Kakula copper complex, along with zinc and platinum-group metals projects. Recent company coverage has highlighted expansion work at Kamoa-Kakula, development at Platreef, improvements at Kipushi and smelter operations as parts of its broader growth plans. Progress in operating results and project execution could help investors judge whether that longer-term growth is showing up in the numbers.
The analyst-ratings section lists an average target price of C$15.09, compared with the supplied last close of C$9.41. Analyst targets are estimates, not guarantees of future returns.
Bear case
Ivanhoe’s recent results are a reason not to take the growth forecast for granted. For the June 2026 quarter, the company reported C$0.04 per share against an estimate of C$0.05. In March, it reported a loss of C$0.005 per share, compared with an estimate of C$0.05. It matched the C$0.04 estimate in December 2025 and beat in September 2025, reporting C$0.02 against C$0.01.
The EPS consensus has also fallen from C$0.09 to C$0.07 over the past month. The supplied last close of C$9.41 is below the 50-day moving average of C$11.53 and the 200-day average of C$12.37. The stock is down 21.58% over one month. These figures describe recent market performance, but they don’t explain what caused it. They do show why a strong growth forecast alone may not ease investor concerns. Project execution, funding needs and the gap between estimates and reported results remain risks to watch.
Analysis
Ivanhoe is due to report after the market closes on November 3 for the quarter ended September 30. The earnings calendar lists an EPS estimate of C$0.06. A separate earnings-trends feed gives a consensus of C$0.07, with a range of C$0.05 to C$0.09 from six analysts. It estimates revenue at US$231.72 million, based on one analyst, and year-over-year EPS and revenue growth of 256.6% and 79.1%, respectively.
The estimates differ between sources, so treat them as reference points rather than a single definitive forecast. The trends feed’s EPS consensus has fallen from C$0.09 over the past 30 days, even though its revision count shows one upward revision and none downward. The report will show whether Ivanhoe’s results support the growth implied by these forecasts.
Analysis
Ivanhoe beat estimates in one of its last four comparable quarters: it reported C$0.02 per share against C$0.01 expected in September 2025. It matched the C$0.04 estimate in December, then missed in March 2026, reporting a C$0.005 loss against C$0.05 expected, and in June, reporting C$0.04 against C$0.05.
The automatically inserted recent-earnings trend table provides the quarter-by-quarter details. Ivanhoe’s broader business includes the Kamoa-Kakula copper complex and zinc and platinum-group metals assets. Recent coverage has pointed to expansion and ramp-up work at Kamoa-Kakula, development at Platreef, improvements at Kipushi and smelter operations as parts of its longer-term project pipeline.
For this quarter, investors should focus on the reported operating and financial results. Management’s comments can help explain how project progress and funding needs fit together. The Ivanhoe Mines stock page brings together the company’s earnings and other stock information.
Analysis
Analysts’ average price target is C$15.09, compared with the supplied last close of C$9.41. That’s a 60.4% difference, but the target is an estimate, not a promised return or a formal rating.
Wealth Awesome’s statistical 90-day model gives a mean forecast of C$7.56. Its 68% range is C$5.64 to C$10.14, and its 95% range is C$4.21 to C$13.59. This is a statistical model, not financial advice.
The supplied market data also puts the last close below the 50-day and 200-day moving averages and shows a 21.58% decline over one month. These measures offer different perspectives, but none predicts how the stock will react to earnings. Investors can review the analyst targets and Wealth Awesome price forecast alongside Ivanhoe’s reported results and project updates.
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