Scotiabank Predicts Reduced Earnings for Ivanhoe Electric

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Analysts at Scotiabank lowered their FY2024 EPS estimates for shares of Ivanhoe Electric in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the company will post earnings of ($1.52) per share for the year, down from their prior estimate of ($1.34). Scotiabank currently has a “Sector Outperform” rating and a $13.50 price target on the stock. The consensus estimate for Ivanhoe Electric’s current full-year earnings is ($1.41) per share. Scotiabank also issued estimates for Ivanhoe Electric’s FY2026 earnings at ($0.16) EPS.

A number of other equities analysts have also recently commented on the stock. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday.

Ivanhoe Electric Trading Down 2.9 %

NYSEAMERICAN:IE opened at $6.98 on Friday. Ivanhoe Electric has a 52-week low of $6.31 and a 52-week high of $12.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market cap of $840.81 million, a P/E ratio of -4.39 and a beta of 0.66.

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds have recently added to or reduced their stakes in IE. JPMorgan Chase & Co. grew its position in shares of Ivanhoe Electric by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock valued at $566,000 after acquiring an additional 1,643 shares during the period. Tidal Investments LLC increased its position in Ivanhoe Electric by 14.5% during the third quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock valued at $3,098,000 after acquiring an additional 46,345 shares during the last quarter. Barclays PLC grew its position in Ivanhoe Electric by 358.9% in the 3rd quarter. Barclays PLC now owns 135,903 shares of the company’s stock valued at $1,150,000 after acquiring an additional 106,288 shares during the last quarter. Vestcor Inc raised its position in Ivanhoe Electric by 11.6% during the 3rd quarter. Vestcor Inc now owns 247,981 shares of the company’s stock valued at $2,098,000 after purchasing an additional 25,700 shares in the last quarter. Finally, State Street Corp raised its stake in Ivanhoe Electric by 94.5% in the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after buying an additional 1,558,467 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.