Scotiabank Reduces Earnings Estimates for Ivanhoe Electric

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Research analysts at Scotiabank dropped their FY2027 earnings estimates for Ivanhoe Electric in a research report issued on Wednesday, August 19th. Scotiabank analyst O. Wowkodaw now expects 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. cut their price target 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 MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $17.83.

Ivanhoe Electric Stock Up 5.8%

NYSEAMERICAN IE opened at $11.91 on Monday. The stock has a market cap of $1.90 billion, a P/E ratio of -15.08 and a beta of 1.24. The company’s 50-day simple moving average is $9.84 and its 200 day simple moving average is $12.25. Ivanhoe Electric has a twelve month low of $7.86 and a twelve month high of $21.55.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.

Institutional Trading of Ivanhoe Electric

Several hedge funds have recently modified their holdings of the stock. KBC Group NV bought a new position in Ivanhoe Electric in the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its position in Ivanhoe Electric by 146.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after buying an additional 3,713 shares during the last quarter. Summit Securities Group LLC boosted its position in Ivanhoe Electric by 146.5% in the 1st quarter. Summit Securities Group LLC now owns 6,000 shares of the company’s stock valued at $71,000 after buying an additional 18,900 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ivanhoe Electric by 43.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after buying an additional 2,449 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Ivanhoe Electric in the 1st quarter valued at $81,000. 79.05% of the stock is owned by institutional investors.

About Ivanhoe Electric

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.