1. Total Metals Corp (TSXV:TT, FSE: O4N)
Total Metals Corp. is focused on advancing high-grade gold projects to production.
The stock market in 2026 has been like a roller coaster, with escalating geopolitical tensions and macroeconomic uncertainties keeping investors on edge and significantly increasing market volatility. However, experienced investors know that short-term pullbacks can sometimes create attractive long-term entry points. When a fundamentally strong company’s stock trades far below its historical highs, it often deserves attention. This article focuses on a Toronto Stock Exchange (TSX) stock—Ivanhoe Mines (TSX:IVN)—and analyzes why, despite short-term headwinds, the stock may still be a solid long-term holding.
For Ivanhoe Mines, 2026 has been a challenging year, with its stock price falling approximately 44% from its 52-week high. Currently, the stock trades at $11.50 per share, with a market capitalization of around $16.4 billion.
However, the decline in share price does not mean the company’s operations have deteriorated. In fact, the company reported strong results for 2025, with after-tax profit rising to $228 million from $193 million in 2024. Adjusted EBITDA reached $578 million, demonstrating solid operational strength.
Ivanhoe Mines’ Kamoa-Kakula copper complex remains a key contributor to its performance. Ivanhoe Mines continues to strengthen its strong asset base. The Kamoa-Kakula complex produced 388,841 tonnes of copper concentrate in 2025, with the Phase 3 concentrator delivering a record 144,489 tonnes, exceeding design capacity by over 30%. The on-site smelter, the largest and most advanced copper smelter in Africa, has ramped up faster than expected, with feed rates exceeding 60%.
In 2025, the company’s capital expenditures were $1.2 billion, below revised guidance. Looking ahead, thanks to efficiency improvements and increased production, Ivanhoe expects its cash costs to further improve to between $1.90 and $2.30 per pound by 2027.
Ivanhoe Mines has multiple long-term growth drivers. Its Platreef project in South Africa is expected to achieve 400% production growth starting in the fourth quarter of 2027. This expansion alone will significantly boost the company’s overall output in the future.
Furthermore, the company has a solid balance sheet, holding $885 million in cash and short-term deposits as of December 2025. Its exploration budget will increase from $48 million in 2024 to approximately $90 million in 2026, demonstrating a clear commitment to future growth.
Ivanhoe Mines stands out due to its high-quality asset portfolio and long-term growth visibility. The company’s continued focus on operational efficiency and expansion projects continues to strengthen its outlook. Even after a sharp decline in its stock price, its business fundamentals remain intact. Additionally, the company offers broad exposure to several key minerals (including copper, zinc, nickel, palladium, platinum, and rhodium). This diversification helps reduce dependence on the price of any single commodity and allows it to fully benefit from growing global demand for these resources. For long-term investors who can tolerate short-term volatility, Ivanhoe Mines deserves serious consideration at its current price level.
