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Ivanhoe Electric Inc. ( (IE) ) has shared an announcement.
Ivanhoe Electric has signed a definitive collaboration and exploration agreement with Chilean mining major SQM to search for large copper deposits concealed beneath electrically resistive caliche cover in northern Chile, using Ivanhoe Electric’s Typhoon™ geophysical system and Computational Geosciences’ data inversion software across 2,002 square kilometers of SQM mining concessions. SQM will initially fund at least $9 million of exploration over three years, and if a qualifying copper deposit of at least one million tonnes of contained copper (or equivalent) is identified, Ivanhoe Electric can acquire a 50% interest and form a 50/50 joint venture by paying twice SQM’s exploration expenditure, a structure that could materially expand Ivanhoe Electric’s project portfolio and underscores the growing role of advanced geophysics in unlocking new copper supply in a key producing region.
The most recent analyst rating on (IE) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on Ivanhoe Electric Inc. stock, see the IE Stock Forecast page.
Spark’s Take on IE Stock
According to Spark, TipRanks’ AI Analyst, IE is a Neutral.
Ivanhoe Electric Inc.’s stock score is primarily impacted by its poor financial performance and valuation metrics. However, positive technical indicators and recent corporate events provide some optimism. The company’s ability to leverage these opportunities will be crucial for future performance.
To see Spark’s full report on IE stock, click here.
More about Ivanhoe Electric Inc.
Ivanhoe Electric Inc. is a mineral exploration and technology company focused on deploying its proprietary Typhoon™ geophysical survey system and Computational Geosciences’ advanced data inversion software to discover large-scale copper and other metal deposits. The company targets geologically prospective regions where traditional exploration methods are challenged, positioning itself as a technology-enabled explorer in major global copper belts.
Average Trading Volume: 2,013,223
Technical Sentiment Signal: Buy
Current Market Cap: $2.74B
See more insights into IE stock on TipRanks’ Stock Analysis page.