Ivanhoe Mines shares rise on strong Q1 results

Ivanhoe Mines (TSX: IVN) rose to its highest possible in a month Thursday after the Canadian miner published solid outcomes for the very first quarter of 2025.

For the three-month duration, Ivanhoe identified a document income of $973 million, running earnings of $471 million and EBITDA of $585 million, comparable to a margin of 60%. Its readjusted EBITDA likewise established a document of $226 million.

These numbers drove the firm’s earnings to $122 million, or $0.10 per share, defeating the marketplace projection of $0.07 a share.

Shares of Ivanhoe leapt as high as 12% to a one-month high of C$ 13.74 each on the favorable Q1 outcomes. By 1:20 p.m. in Toronto, the supply traded at C$ 13.32 for an intraday gain of 8.8%, offering the firm a market capitalization of virtually C$ 18 billion.

Kamoa efficiency

The very first quarter outcomes, claimed Ivanhoe creator Robert Friedland, show the firm’s “solid initiatives” at the Kamoa-Kakula copper complicated in the Autonomous Republic of the Congo.

From January to March, the copper mine, in which Ivanhoe holds a 39.6% risk, generated a near-record 133,120 tonnes, contrasted to 86,117 tonnes the very same duration in 2015. From March 18, the copper manufacturing price raised to 614,000 tonnes on an annualized basis, establishing a greater month-to-month result beginning in April.

” Kamoa-Kakula is established for document manufacturing in the much shorter month of April, accomplishing around 50,000 tonnes of copper in concentrate, comparable to an annualized price of over 600,000 tonnes– an amazing accomplishment,” Friedland claimed in a news release.

Throughout the quarter, the Stage 1, 2 and 3 concentrators at Kamoa-Kakula accomplished a mixed milling document of around 3.7 million tonnes at a typical document healing price of 87.4%. This was underpinned by the Stage 3 concentrator operating 20% over its layout capability, Ivanhoe claimed.

Provided these outcomes, the firm is preserving its 2025 manufacturing assistance at 520,000 to 580,000 tonnes of copper in concentrate. In 2026, Ivanhoe is targeting around 600,000 tonnes of manufacturing as the Stage 1 and 2 recuperations enhance and the Stage 3 throughput rises.

It likewise kept in mind that Kamoa-Kakula’s 500,000-tonne-per-annum on-site, direct-to-blister copper smelter, the biggest in Africa, is currently full, with the center undertaking appointing. Start-up of the smelter is anticipated in Might, with very first copper anode manufacturing anticipated in July.

Kipushi progression

Ivanhoe has actually likewise preserved its expectation for the Kipushi zinc mine, likewise in the DRC, on document manufacturing in the very first quarter.

Throughout Q1, the Kipushi concentrator crushed a document 151,403 tonnes of ore at a document standard quality of 32.5% zinc, creating 42,736 tonnes of zinc in concentrate at a consisted of quality of over 53%.

For the year, Ivanhoe anticipates Kipushi’s zinc result to array in between 180,000 and 240,000 tonnes, as the mine proceeds its increase to stable state. The manufacturing price is anticipated to climb to 250,000 tonnes in 2026 complying with the conclusion of ramp-up and debottlenecking tasks at Kipushi.

The debottlenecking program, which is targeting a 20% boost in the concentrator’s handling capability to as much as 960,000 tonnes per year, has to do with two-thirds full, Ivanhoe claimed.