FY2024 EPS Estimate for Ivanhoe Electric Reduced by Analyst

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Stock analysts at Scotiabank dropped their FY2024 EPS estimates for Ivanhoe Electric in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the company will post earnings per share of ($1.52) for the year, down from their previous 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 research analysts also recently weighed in on the company. Jefferies Financial Group dropped their target price on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, January 6th. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Trading Up 4.2 %

NYSEAMERICAN:IE opened at $7.27 on Friday. 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 capitalization of $875.74 million, a price-to-earnings ratio of -4.57 and a beta of 0.66. Ivanhoe Electric has a one year low of $6.31 and a one year high of $12.98.

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of 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 purchasing an additional 106,288 shares during the last quarter. State Street Corp lifted its holdings in Ivanhoe Electric by 94.5% in the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after buying an additional 1,558,467 shares during the period. Goehring & Rozencwajg Associates LLC boosted its position in Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after acquiring an additional 199,400 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Ivanhoe Electric during the 3rd quarter worth about $162,000. Finally, SG Americas Securities LLC bought a new position in shares of Ivanhoe Electric in the 3rd quarter worth about $431,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Ivanhoe Electric

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.