Ivanhoe Electric (NYSEAMERICAN:IE) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Ivanhoe Electric (NYSEAMERICAN:IE) issued its quarterly earnings results on Thursday. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10), FiscalAI reports. The business had revenue of $0.71 million for the quarter, compared to analysts’ expectations 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%

Shares of IE opened at $7.58 on Friday. The firm has a market capitalization of $1.21 billion, a P/E ratio of -8.92 and a beta of 1.34. Ivanhoe Electric has a 12-month low of $6.70 and a 12-month high of $21.55. The firm has a 50-day moving average price of $9.39 and a 200 day moving average price of $11.90.

Analyst Ratings Changes

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