Ivanhoe Electric (NYSEAMERICAN:IE) Releases Earnings Results, Misses Expectations By $0.10 EPS

Ivanhoe Electric (NYSEAMERICAN:IE) issued its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10), FiscalAI reports. The business had revenue of $0.71 million during the quarter, compared to analyst estimates of $0.72 million. Ivanhoe Electric had a negative net margin of 3,899.97% and a negative return on equity of 26.29%.

Ivanhoe Electric Trading Up 7.8%

Ivanhoe Electric stock traded up $0.55 during trading on Friday, reaching $7.58. The company had a trading volume of 2,383,788 shares, compared to its average volume of 2,499,054. Ivanhoe Electric has a 52 week low of $6.70 and a 52 week high of $21.55. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -8.92 and a beta of 1.34. The firm’s 50-day simple moving average is $9.39 and its 200 day simple moving average is $11.90.

Analysts Set New Price Targets

Several research analysts have weighed in on IE shares. JPMorgan Chase & Co. lowered their price objective on Ivanhoe Electric from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Scotiabank dropped their price target on shares of Ivanhoe Electric from $18.00 to $16.00 and set a “sector outperform” rating on the stock in a research report on Friday, September 25th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.50.

About Ivanhoe Electric

Ivanhoe Electric Inc is a mineral exploration and development company focused on discovering and advancing deposits of critical minerals, including copper, nickel and other metals needed for electrification and energy infrastructure. The company’s exploration activities are primarily concentrated in the United States, with additional opportunities in international markets.

The company’s project portfolio includes the Santa Cruz Copper Project in Arizona and the Tintic Project in Utah, along with other exploration properties.