Ivanhoe Electric Inc. (IE) AI Stock Analysis

• Market Cap: $2.47B
• Dividend Yield: N/A
• Average Volume (3M): 1.68M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.89
• Revenue Growth: 13.58%
• EPS Growth: 74.26%
• Country: US
• Employees: 240
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Software - Application
• EPS (TTM): -0.18
• Shares Outstanding: 144,714,780
• 10 Day Avg. Volume: 2,040,733
• 30 Day Avg. Volume: 1,676,442
• PEG Ratio: 0.16
• Price to Book (P/B): 3.38
• Price to Sales (P/S): 313.36
• P/FCF Ratio: -5.51
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 672.22
• Enterprise Value/Gross Profit: -198.52
• Enterprise Value/Ebitda: -47.10
• 1Y Price Target: $22.00
• Price Target Upside: 19.37% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.53
• Revenue Forecast (FY): $4.19M

• Rating: 57 Neutral
• Price Target: $20.00 ▲(8.52% Upside)

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.

Positive Factors

Project-level financing secured

Securing $200M of project financing is a structural positive: it materially reduces execution and funding risk for Santa Cruz, enables advancing construction and development, and increases probability of future production and cash generation without immediate dilutive equity issuance.

Exposure to essential metals

Long-term exposure to copper and silver aligns the company with secular demand drivers—electrification, renewable grids, and EVs. Structural industrial demand supports persistency of revenue opportunity and strategic relevance of assets over multiple years.

Manageable leverage on balance sheet

A moderate debt-to-equity ratio suggests the company retains financing flexibility to support project development and absorb shocks. This structural balance reduces near-term insolvency risk and helps preserve options for staged project funding or partnering.

Negative Factors

Negative operating and free cash flows

Persistent negative operating and free cash flows undermine the company’s ability to self-fund development and sustain operations. Over several months this necessitates ongoing external financing, increasing execution risk and potential dilution or higher borrowing costs.

Negative gross and net profit margins

Sustained negative gross and net margins indicate the business currently cannot cover production and operating costs from revenue. Structurally this impedes reinvestment, degrades returns on capital, and raises questions about long-term operational viability without cost or revenue improvements.

Negative return on equity

A negative ROE signals the company is destroying shareholder capital rather than creating it. Over months this erodes investor confidence, complicates future equity raises, and can limit access to cheaper capital needed to execute on large, capital-intensive mining projects.

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

Ivanhoe Electric Inc. faces significant financial challenges. The income statement shows declining revenues and negative profitability. The balance sheet reflects manageable leverage but poor returns on equity. Cash flow analysis indicates ongoing cash deficits, raising concerns about liquidity.

Income Statement

Ivanhoe Electric Inc. has experienced declining revenue and negative profit margins over the TTM period. The gross profit margin is negative, indicating costs exceed revenues. The net profit margin is also significantly negative, highlighting substantial losses. The revenue growth rate is negative, showing a contraction in sales. Overall, the income statement reflects financial challenges with declining revenues and profitability.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio, indicating manageable leverage. However, the return on equity is negative, reflecting poor profitability and returns for shareholders. The equity ratio is relatively stable, suggesting a solid asset base. Despite some stability in equity, the negative ROE points to inefficiencies in generating returns.

Cash Flow

The cash flow statement reveals negative operating and free cash flows, indicating cash outflows. The free cash flow growth rate is negative, showing a decline in cash generation. The operating cash flow to net income ratio is negative, highlighting inefficiencies in converting income to cash. Overall, the cash flow situation is concerning with ongoing cash deficits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.68M	2.90M	3.90M	8.44M	4.65M	4.63M
Gross Profit	-12.46M	1.88M	917.00K	5.30M	3.13M	2.85M
EBITDA	-52.53M	-134.95M	-211.06M	-154.42M	-62.24M	-25.26M
Net Income	-54.98M	-128.62M	-199.38M	-149.81M	-59.32M	-25.23M
Balance Sheet
Total Assets	386.15M	374.93M	487.23M	260.49M	153.53M	71.72M
Cash, Cash Equivalents and Short-Term Investments	73.46M	40.97M	205.04M	139.66M	49.85M	9.34M
Total Debt	74.03M	69.86M	79.19M	27.03M	79.23M	6.48M
Total Liabilities	92.39M	94.50M	110.95M	58.04M	125.72M	23.03M
Stockholders Equity	280.13M	268.64M	374.25M	206.38M	21.93M	41.98M
Cash Flow
Free Cash Flow	-97.06M	-165.03M	-232.60M	-160.15M	-66.22M	-39.71M
Operating Cash Flow	-94.20M	-162.10M	-150.51M	-115.73M	-47.83M	-22.98M
Investing Cash Flow	26.27M	11.91M	-150.77M	-48.38M	-22.63M	-16.75M
Financing Cash Flow	54.56M	-7.49M	366.45M	254.41M	110.98M	44.09M

Ivanhoe Electric Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 18.43
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IE, the sentiment is Positive. The current price of 18.43 is above the 20-day moving average (MA) of 17.99, above the 50-day MA of 16.00, and above the 200-day MA of 11.48, indicating a bullish trend. The MACD of 0.80 indicates Positive momentum. The RSI at 54.43 is Neutral, neither overbought nor oversold. The STOCH value of 37.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IE.

Ivanhoe Electric Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CXM	77 Outperform	$1.57B	14.87	21.35%	―	6.48%	168.94%
DBD	64 Neutral	$2.48B	52.09	4.66%	―	-2.86%	985.78%
ALKT	62 Neutral	$2.23B	-46.98	-12.74%	―	30.72%	9.70%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
IE	57 Neutral	$2.47B	-44.69	-20.74%	―	13.58%	74.26%
GRND	53 Neutral	$2.09B	-29.69	-171.54%	―	28.97%	-4.18%

Ivanhoe Electric Inc. Corporate Events

Ivanhoe Electric Secures $200M Credit for Copper Project

On December 12, 2025, Ivanhoe Electric Inc.‘s subsidiary, Mesa Cobre Holding Corporation, secured a $200 million credit agreement with several banks, including the National Bank of Canada, to support the Santa Cruz Copper Project in Arizona. This agreement strengthens Ivanhoe Electric’s financial position and aids in the development and construction of the project, marking a significant step in their long-term financing strategy, which includes potential project-level equity investments and long-term debt.

The most recent analyst rating on (IE) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on Ivanhoe Electric Inc. stock, see the IE Stock Forecast page.