Ivanhoe Mines Ltd.

DB:IYAA Stock Report

Market Cap: €17.5b

Ivanhoe Mines Valuation

Is IYAA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IYAA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IYAA (€12.99) is trading below our estimate of fair value (€15.28)

Significantly Below Fair Value: IYAA is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IYAA?

Key metric: As IYAA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IYAA. This is calculated by dividing IYAA's market cap by their current earnings.
What is IYAA's PE Ratio?
PE Ratio116.5x
EarningsUS$156.53m
Market CapUS$18.23b

Price to Earnings Ratio vs Peers

How does IYAA's PE Ratio compare to its peers?

The above table shows the PE ratio for IYAA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.4x
HEI Heidelberg Materials
11.4x7.8%€21.2b
SY1 Symrise
37.8x13.2%€14.8b
BAS BASF
76.5x34.2%€38.0b
EVK Evonik Industries
35.8x33.1%€8.2b
IYAA Ivanhoe Mines
116.5x43.2%€25.5b

Price-To-Earnings vs Peers: IYAA is expensive based on its Price-To-Earnings Ratio (116.5x) compared to the peer average (40.4x).

Price to Earnings Ratio vs Industry

How does IYAA's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IYAA 116.5xIndustry Avg. 12.1xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IYAA is expensive based on its Price-To-Earnings Ratio (116.5x) compared to the European Metals and Mining industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is IYAA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IYAA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio116.5x
Fair PE Ratio38.9x

Price-To-Earnings vs Fair Ratio: IYAA is expensive based on its Price-To-Earnings Ratio (116.5x) compared to the estimated Fair Price-To-Earnings Ratio (38.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IYAA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€12.99
€16.95
+30.5%
10.2%€20.78€14.74n/a14
Nov ’25€11.95
€16.41
+37.3%
10.2%€20.10€14.26n/a14
Oct ’25€13.16
€16.10
+22.3%
8.6%€19.62€13.91n/a14
Sep ’25€11.77
€15.70
+33.4%
10.0%€19.59€13.14n/a14
Aug ’25€11.88
€16.17
+36.2%
9.7%€20.13€13.19n/a14
Jul ’25€11.78
€15.71
+33.4%
14.7%€20.40€9.46n/a14
Jun ’25€13.17
€14.97
+13.7%
17.9%€20.16€9.35n/a14
May ’25€13.00
€13.89
+6.9%
19.5%€20.42€9.47n/a12
Apr ’25€11.01
€11.65
+5.9%
10.3%€12.98€9.60n/a12
Mar ’25€9.56
€11.38
+19.1%
10.0%€13.00€9.62n/a12
Feb ’25€9.30
€11.05
+18.8%
12.9%€13.05€8.38n/a12
Jan ’25€8.58
€10.37
+20.9%
13.6%€12.75€8.27n/a12
Dec ’24€7.96
€10.43
+31.1%
13.5%€12.86€8.34n/a12
Nov ’24€6.77
€10.62
+56.9%
13.1%€13.12€8.64€11.9512
Oct ’24€8.08
€11.08
+37.2%
11.6%€13.37€8.73€13.1612
Sep ’24€7.87
€10.94
+39.0%
8.8%€12.75€9.64€11.7711
Aug ’24€9.31
€10.92
+17.3%
9.1%€12.74€9.59€11.8811
Jul ’24€8.24
€10.97
+33.2%
9.2%€12.60€9.61€11.7811
Jun ’24€7.10
€11.11
+56.4%
9.0%€12.82€9.61€13.1711
May ’24€7.77
€10.58
+36.3%
7.7%€12.06€9.40€13.0010
Apr ’24€7.99
€10.09
+26.3%
7.0%€11.58€8.76€11.0110
Mar ’24€8.05
€10.33
+28.4%
5.6%€11.45€9.18€9.5610
Feb ’24€8.66
€9.96
+15.0%
6.2%€11.27€8.87€9.3010
Jan ’24€7.32
€10.02
+36.9%
10.9%€12.07€8.20€8.5810
Dec ’23€8.35
€9.96
+19.2%
12.2%€12.31€8.36€7.9610
Nov ’23€7.18
€10.37
+44.5%
13.3%€12.96€8.81€6.7710

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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