Ivanhoe Electric Stock Earnings Estimates Cut by Scotiabank

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Analysts at Scotiabank cut their FY2027 earnings estimates for shares of Ivanhoe Electric in a research report issued on Friday, September 25th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings of ($0.54) per share for the year, down from their prior forecast of ($0.48). Scotiabank has a “Sector Outperform” rating and a $16.00 price objective on the stock. The consensus estimate for Ivanhoe Electric’s current full-year earnings is ($0.14) per share.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings results on Friday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.28. Ivanhoe Electric had a negative net margin of 3,899.97% and a negative return on equity of 26.29%. The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.00 million.

Separately, JPMorgan Chase & Co. decreased their price target on Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.33.

Ivanhoe Electric Stock Down 6.8%

Shares of NYSEAMERICAN:IE opened at $9.92 on Tuesday. The firm has a market cap of $1.58 billion, a P/E ratio of -12.56 and a beta of 1.26. Ivanhoe Electric has a 12-month low of $7.86 and a 12-month high of $21.55. The business has a fifty day simple moving average of $10.28 and a 200 day simple moving average of $11.27.

Hedge Funds Weigh In On Ivanhoe Electric

A number of large investors have recently modified their holdings of IE. Tidal Investments LLC lifted its stake in shares of Ivanhoe Electric by 76.5% in the second quarter. Tidal Investments LLC now owns 175,799 shares of the company’s stock valued at $1,649,000 after buying an additional 76,199 shares in the last quarter. SailingStone Capital Partners LLC raised its stake in shares of Ivanhoe Electric by 37.6% in the second quarter. SailingStone Capital Partners LLC now owns 4,195,373 shares of the company’s stock worth $40,318,000 after purchasing an additional 1,146,899 shares during the last quarter. Arizona State Retirement System raised its position in Ivanhoe Electric by 31.5% in the 2nd quarter. Arizona State Retirement System now owns 33,664 shares of the company’s stock valued at $324,000 after buying an additional 8,066 shares during the last quarter. Amundi raised its position in Ivanhoe Electric by 109.0% in the 2nd quarter. Amundi now owns 29,348 shares of the company’s stock valued at $282,000 after buying an additional 15,308 shares during the last quarter. Finally, AlphaGrep UK Ltd purchased a new position in Ivanhoe Electric during the 2nd quarter worth $187,000. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc is a mineral exploration and development company focused on discovering and advancing deposits of copper and other critical minerals used in electrification, renewable energy and modern infrastructure. The company primarily concentrates its exploration activities in the United States.

Its principal asset is the Santa Cruz copper project in Arizona, which Ivanhoe Electric is advancing through exploration and development work. The company also holds interests in other mineral exploration properties and evaluates additional opportunities with potential to host copper, nickel, gold and related critical minerals.

Ivanhoe Electric has developed the Typhoon geophysical surveying system, a proprietary technology designed to identify subsurface mineralization by collecting and analyzing electrical data.