Ivanhoe Electric (TSE:IE) Releases Quarterly Earnings Results

Ivanhoe Electric (TSE:IE) issued its quarterly earnings data on Thursday. The company reported C($0.36) earnings per share for the quarter, FiscalAI reports. Ivanhoe Electric had a negative return on equity of 32.66% and a negative net margin of 3,263.69%.The business had revenue of C$1.19 million during the quarter.

Ivanhoe Electric Stock Up 1.7%

Shares of TSE IE traded up C$0.31 during trading on Friday, hitting C$18.92. 17,938 shares of the company traded hands, compared to its average volume of 27,452. The business’s fifty day moving average is C$18.32 and its 200 day moving average is C$20.40. Ivanhoe Electric has a fifty-two week low of C$8.91 and a fifty-two week high of C$28.81. The firm has a market capitalization of C$2.99 billion, a price-to-earnings ratio of -23.95 and a beta of 2.09. The company has a debt-to-equity ratio of 8.89, a quick ratio of 8.83 and a current ratio of 3.34.

Wall Street Analyst Weigh In

Separately, National Bank Financial reduced their price objective on shares of Ivanhoe Electric from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$26.25.

Ivanhoe Electric Company Profile

We are a United States domiciled minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. We seek to support American supply chain independence by finding and delivering copper and other critical metals vital to advanced manufacturing, infrastructure development, technology, and national security. We use our powerful Typhoon¿ geophysical surveying system, together with advanced data analytics provided by our 94.3% owned subsidiary, Computational Geosciences Inc (“CGI”), to accelerate and de-risk the mineral exploration process as we seek to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies.