Scotiabank Forecasts Ivanhoe Electric FY2027 Earnings

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

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

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

Ivanhoe Electric Price Performance

Ivanhoe Electric stock opened at $10.64 on Tuesday. The firm has a 50 day simple moving average of $10.26 and a 200-day simple moving average of $11.29. Ivanhoe Electric has a 1-year low of $7.86 and a 1-year high of $21.55. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -13.47 and a beta of 1.26.

Institutional Trading of Ivanhoe Electric

Several institutional investors and hedge funds have recently bought and sold shares of IE. Tidal Investments LLC boosted its stake in Ivanhoe Electric by 76.5% during the second quarter. Tidal Investments LLC now owns 175,799 shares of the company’s stock worth $1,649,000 after buying an additional 76,199 shares during the period. SailingStone Capital Partners LLC raised its stake in shares of Ivanhoe Electric by 37.6% in the 2nd quarter. SailingStone Capital Partners LLC now owns 4,195,373 shares of the company’s stock valued at $40,318,000 after acquiring an additional 1,146,899 shares during the period. Arizona State Retirement System raised its stake in shares of 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 acquiring an additional 8,066 shares during the period. Amundi lifted its holdings in shares of Ivanhoe Electric by 109.0% in the 2nd quarter. Amundi now owns 29,348 shares of the company’s stock worth $282,000 after acquiring an additional 15,308 shares during the last quarter. Finally, AlphaGrep UK Ltd acquired a new position in shares of Ivanhoe Electric in the 2nd quarter worth approximately $187,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

About Ivanhoe Electric

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.