Ivanhoe Electric (NYSEAMERICAN:IE) Issues Quarterly Earnings Results

Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) released its earnings results 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 company had revenue of $0.71 million for the quarter, compared to the consensus estimate of $0.72 million. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%.

Ivanhoe Electric Stock Performance

Shares of IE stock traded up $0.55 on Friday, hitting $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 twelve month low of $6.70 and a twelve month high of $21.55. The firm has a market cap of $1.21 billion, a P/E ratio of -8.92 and a beta of 1.34. The stock’s 50-day moving average is $9.39 and its two-hundred day moving average is $11.90.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IE shares. JPMorgan Chase & Co. dropped their price objective on shares of Ivanhoe Electric from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Scotiabank reduced 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 analysts have rated the stock with a Buy rating. According to data from MarketBeat, Ivanhoe Electric presently has a consensus rating of “Buy” and a consensus target price of $15.50.

View Our Latest Stock Analysis on Ivanhoe Electric

Ivanhoe Electric Company Profile

(Get Free Report)

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.

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Earnings History for Ivanhoe Electric (NYSEAMERICAN:IE)

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