FY2024 EPS Estimates for Ivanhoe Electric Cut by Scotiabank

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) – Scotiabank reduced their FY2024 earnings estimates for shares of Ivanhoe Electric in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the company will earn ($1.52) per share for the year, down from their prior forecast of ($1.34). Scotiabank currently has a “Sector Outperform” rating and a $13.50 target price 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 weighed in on IE. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group decreased their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Ivanhoe Electric Stock Up 4.2 %

IE stock opened at $7.27 on Friday. The company has a market cap of $875.74 million, a P/E ratio of -4.57 and a beta of 0.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. Ivanhoe Electric has a fifty-two week low of $6.31 and a fifty-two week high of $12.98.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC purchased a new stake in Ivanhoe Electric in the 3rd quarter valued at about $32,000. nVerses Capital LLC purchased a new stake in shares of Ivanhoe Electric during the third quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new stake in shares of Ivanhoe Electric during the second quarter valued at approximately $106,000. Creative Planning lifted its holdings in Ivanhoe Electric by 33.9% during the third quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after acquiring an additional 4,644 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Ivanhoe Electric in the third quarter worth $162,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.