Brokers Issue Forecasts for Ivanhoe Electric FY2027 Earnings

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Investment analysts at Scotiabank cut their FY2027 earnings per share estimates for Ivanhoe Electric in a research note issued on Wednesday, August 19th. Scotiabank analyst O. Wowkodaw now anticipates that the company will post earnings per share of ($0.48) for the year, down from their previous estimate of ($0.22). The consensus estimate for Ivanhoe Electric’s current full-year earnings is ($0.11) per share.

Separately, JPMorgan Chase & Co. decreased their target price on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $17.83.

Ivanhoe Electric Price Performance

NYSEAMERICAN:IE opened at $11.26 on Monday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -14.25 and a beta of 1.24. The company has a 50 day moving average price of $9.83 and a 200-day moving average price of $12.30. Ivanhoe Electric has a 1-year low of $7.86 and a 1-year high of $21.55.

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

Hedge Funds Weigh In On Ivanhoe Electric

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Ivanhoe Electric during the second quarter worth approximately $146,309,000. Price T Rowe Associates Inc. MD increased its position in shares of Ivanhoe Electric by 114.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,671,551 shares of the company’s stock valued at $202,493,000 after buying an additional 6,761,857 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of Ivanhoe Electric by 259.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company’s stock valued at $120,686,000 after buying an additional 5,451,646 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Ivanhoe Electric during the 2nd quarter worth approximately $32,946,000. Finally, MFN Partners Management LP purchased a new position in shares of Ivanhoe Electric during the 2nd quarter valued at approximately $24,536,166,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Company Profile

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.