Ivanhoe Electric Inc. (IE) AI Stock Analysis

• Market Cap: $1.79B
• Dividend Yield: N/A
• Average Volume (3M): 1.76M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.05
• Revenue Growth: 13.58%
• EPS Growth: 74.26%
• Country: US
• Employees: 240
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Software - Application
• EPS (TTM): -0.24
• Shares Outstanding: 157,422,640
• 10 Day Avg. Volume: 1,924,869
• 30 Day Avg. Volume: 1,759,229
• PEG Ratio: 0.77
• Price to Book (P/B): 5.13
• Price to Sales (P/S): 658.03
• P/FCF Ratio: -22.90
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 508.82
• Enterprise Value/Gross Profit: -51.23
• Enterprise Value/Ebitda: -15.15
• 1Y Price Target: $22.00
• Price Target Upside: 78.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.59
• Revenue Forecast (FY): $4.63M

• Rating: 48 Neutral
• Price Target: $12.00 ▼(-2.76% Downside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is primarily constrained by weak financial performance (ongoing operating losses and historical cash burn), partially offset by a stronger leverage position. Technicals are neutral-to-mixed with limited momentum confirmation, while valuation is pressured by negative earnings (negative P/E). Corporate events provide some support due to financing progress and advancement of asset divestment terms.

Positive Factors

Improved Leverage / No Debt

The absence of reported debt in the trailing twelve months materially lowers default and interest-rate risk, improving financial flexibility. Over 2–6 months this strengthens the firm's ability to allocate cash to development, negotiate financing on better terms, and survive cyclical commodity volatility.

High Gross Margins

Sustained mid-60% gross margins indicate strong unit economics from extraction/processing. If scalable, these margins provide a durable cushion to absorb SG&A and development costs, improving prospects for eventual operational profitability as revenues grow or non-core assets are divested.

Clarified Alacrán Divestment

A finalized $128M sale and streamlined closing conditions is a structural liquidity event. It clarifies near-term cash inflows, reduces geographic/asset exposure in Colombia, and supports reallocation of capital toward core projects or debt reduction, improving balance-sheet optionality.

Negative Factors

Persistent Operating Losses

Multi-year operating losses and negative free cash flow indicate ongoing cash burn and lack of self-sustaining operations. Over several months this forces dependence on external financing, raises dilution risk, and constrains long-term investment in project development and permitting.

Small, Volatile Revenue

Low and inconsistent revenue reduces predictability for project funding and scale-up. Structural volatility complicates long-range planning, weakens bargaining power with partners and suppliers, and makes it harder to convert strong unit economics into sustained profitability.

TTM Equity Reported as Zero

A reported zero equity balance in the trailing period clouds assessment of solvency and capital buffers. This opacity can impede access to conventional financing, raise lender/investor caution, and increase the strategic urgency to complete asset sales or equity raises within the medium term.

Ivanhoe Electric Inc. Business Overview & Revenue Model

Company Description

Ivanhoe Electric Inc. operates as a mineral exploration and development company in the United States. It operates through Critical Metals, Technology, and Energy Storage. The company holds 84.6% interests in the Tintic copper-gold project covering an area of 65 square kilometers located in Utah. It also holds an option to acquire a 100% interest in the Santa Cruz copper project covering an area of 77.59 square kilometers located in Arizona; 75% interest in the Hog Heaven silver-gold-copper project covering an area of 24.2 square kilometers located in Montana; and 60% interest in the Ivory Coast project covering an area of 1,125 square kilometers located in the Ivory Coast. The company also provides data analytics, geophysical modelling, and artificial intelligence services for the mineral, oil and gas, and water exploration industries; and develops, manufactures, and installs vanadium flow batteries for grid-scale energy storage. Ivanhoe Electric Inc. was incorporated in 2020 and is based in Vancouver, Canada.

How the Company Makes Money

Ivanhoe Electric generates revenue primarily through the mining and sale of copper and silver. The company's revenue model is based on the extraction, processing, and selling of these metals to industrial customers and markets. Key revenue streams include direct sales of mined copper and silver, as well as potential partnerships with other mining firms and investors that enable shared access to technology and resources. Significant partnerships with technology providers and strategic joint ventures also contribute to its earnings by enhancing operational efficiencies and expanding market reach.

Ivanhoe Electric Inc. Financial Statement Overview

Summary

Overall fundamentals are weak: income statement and cash flow scores are very low due to small/volatile revenue, persistent operating losses, and multi-year negative free cash flow. The balance sheet is a relative positive with materially improved leverage (no debt reported in TTM), but TTM equity reported as zero limits confidence in the latest-period capitalization picture.

Income Statement

Revenue remains very small and has been volatile, with declines in 2023–2024 followed by a modest rebound in TTM (Trailing-Twelve-Months) versus 2024. Gross margin is a bright spot (roughly mid-60% in 2024 and TTM), but the company continues to run deeply unprofitable operations: operating results were heavily negative in 2021–2024 and still meaningfully negative in TTM. Net income was strongly negative in 2021–2024, and while TTM shows breakeven net income, the underlying operating loss suggests profitability is not yet durable.

Balance Sheet

Leverage has improved materially over time. Debt levels were elevated relative to equity in 2021, but the company moved to a moderate debt load by 2022–2024 and shows no debt in TTM (Trailing-Twelve-Months), which reduces financial risk. Total assets peaked in 2023 and declined in 2024 and TTM, which may indicate shrinking balance-sheet capacity. Profitability on equity is clearly weak in the annual periods (negative returns in 2021–2024), and TTM equity is reported as zero, limiting visibility into true capitalization quality for the most recent period.

Cash Flow

Cash generation is a key weakness. Operating cash flow and free cash flow were meaningfully negative in every annual period from 2020–2024, indicating ongoing cash burn. While 2024 free cash flow improved versus 2023 (less negative), it remained deeply negative, and TTM (Trailing-Twelve-Months) cash flow is reported at zero (which clouds the near-term trend). Overall, the profile suggests continued reliance on external funding or balance-sheet resources to sustain operations until profitability improves.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.24M	2.90M	3.90M	8.44M	4.65M
Gross Profit	-64.12M	1.88M	917.00K	5.30M	3.13M
EBITDA	-117.94M	-134.95M	-211.06M	-154.42M	-62.24M
Net Income	-105.87M	-128.62M	-199.38M	-149.81M	-59.32M
Balance Sheet
Total Assets	484.13M	374.93M	487.23M	260.49M	153.53M
Cash, Cash Equivalents and Short-Term Investments	176.27M	40.97M	205.04M	139.66M	49.85M
Total Debt	36.98M	69.86M	79.19M	27.03M	79.23M
Total Liabilities	60.56M	94.50M	110.95M	58.04M	125.72M
Stockholders Equity	416.11M	268.64M	374.25M	206.38M	21.93M
Cash Flow
Free Cash Flow	-93.20M	-165.03M	-232.60M	-160.15M	-66.22M
Operating Cash Flow	-89.20M	-162.10M	-150.51M	-115.73M	-47.83M
Investing Cash Flow	24.84M	11.91M	-150.77M	-48.38M	-22.63M
Financing Cash Flow	194.47M	-7.49M	366.45M	254.41M	110.98M

Ivanhoe Electric Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IE, the sentiment is Negative. The current price of 12.34 is below the 20-day moving average (MA) of 14.54, below the 50-day MA of 16.46, and below the 200-day MA of 12.85, indicating a bearish trend. The MACD of -1.19 indicates Positive momentum. The RSI at 31.72 is Neutral, neither overbought nor oversold. The STOCH value of 9.83 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IE.

Ivanhoe Electric Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRND	67 Neutral	$2.32B	27.11	60.60%	―	28.97%	-4.18%
CXM	67 Neutral	$1.48B	69.87	3.93%	―	6.48%	168.94%
DBD	65 Neutral	$2.52B	26.41	8.82%	―	-2.86%	985.78%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ALKT	51 Neutral	$1.80B	-52.37	-13.71%	―	30.72%	9.70%
IE	48 Neutral	$1.79B	-20.16	-32.66%	―	13.58%	74.26%

Ivanhoe Electric Inc. Corporate Events

Ivanhoe Electric Advances Divestment of Colombian Mining Assets

On March 2, 2026, Cordoba Minerals Corp., a majority-owned subsidiary of Ivanhoe Electric Inc., reported that shareholders of its partner JCHX Mining Management Co., Ltd. approved a Waiver and Amending Agreement modifying a previously announced commercial sale arrangement. The agreement enables the sale of Cordoba’s remaining 50% interest in the Alacrán Project, along with all other Colombian exploration assets and certain accounts receivable, with closing of the transaction scheduled for March 6, 2026, marking a key step in Ivanhoe Electric’s divestment from these Colombian mining interests.

The most recent analyst rating on (IE) stock is a Sell with a $14.50 price target. To see the full list of analyst forecasts on Ivanhoe Electric Inc. stock, see the IE Stock Forecast page.

Ivanhoe Electric Updates Cordoba Minerals’ Alacrán Sale Terms

On February 10, 2026, Ivanhoe Electric’s 60.8%-owned subsidiary Cordoba Minerals and its indirect subsidiary Cordoba Barbados amended a previously disclosed agreement to sell their remaining 50% interest in the Alacrán copper-gold-silver deposit in Colombia, related exploration properties, and certain intercompany receivables to JCHX-affiliated parties for $128 million. The waiver and amending agreement removed Naipu and Zhongan from the deal, waived the need for Colombian environmental impact assessment approval as a closing condition, added a requirement for JCHX shareholder approval, extended the outside closing date to March 10, 2026, increased payment at closing to the full $128 million with no post-closing payments, and committed Cordoba to use commercially reasonable efforts to distribute net proceeds to shareholders while retaining $10 million in the company, changes that streamline closing mechanics and clarify value distribution to stakeholders.

The most recent analyst rating on (IE) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on Ivanhoe Electric Inc. stock, see the IE Stock Forecast page.