Scotiabank Decreases Earnings Estimates for Ivanhoe Electric

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Research analysts at Scotiabank reduced their FY2027 earnings per share (EPS) estimates for Ivanhoe Electric in a report issued on Thursday, June 18th. Scotiabank analyst O. Wowkodaw now anticipates that the company will post earnings per share of ($0.22) for the year, down from their previous estimate of ($0.15). The consensus estimate for Ivanhoe Electric’s current full-year earnings is $0.02 per share.

Separately, JPMorgan Chase & Co. reduced their target price on shares of Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.88.

Ivanhoe Electric Stock Performance

Shares of IE stock opened at $11.40 on Monday. Ivanhoe Electric has a 12 month low of $7.72 and a 12 month high of $21.55. The stock has a market cap of $1.80 billion, a PE ratio of -14.07 and a beta of 1.15. The company’s fifty day moving average price is $13.02 and its 200-day moving average price is $14.57.

Institutional Trading of Ivanhoe Electric

A number of hedge funds have recently made changes to their positions in IE. Vanguard Group Inc. grew its stake in shares of Ivanhoe Electric by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,289,271 shares of the company’s stock worth $66,380,000 after acquiring an additional 80,693 shares during the last quarter. Militia Capital Partners LP bought a new position in shares of Ivanhoe Electric during the third quarter valued at $1,130,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Ivanhoe Electric in the 4th quarter worth about $1,572,000. SG Americas Securities LLC raised its position in shares of Ivanhoe Electric by 186.1% in the 4th quarter. SG Americas Securities LLC now owns 150,740 shares of the company’s stock worth $2,409,000 after purchasing an additional 98,052 shares during the last quarter. Finally, Primecap Management Co. CA boosted its stake in Ivanhoe Electric by 79.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock worth $35,495,000 after purchasing an additional 1,253,400 shares in the last quarter. 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.