Ivanhoe Electric Inc. (IE) AI Stock Analysis

• Market Cap: $2.71B
• Dividend Yield: N/A
• Average Volume (3M): 1.87M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.90
• Revenue Growth: 13.58%
• EPS Growth: 74.26%
• Country: US
• Employees: 240
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Software - Application
• EPS (TTM): -0.28
• Shares Outstanding: 157,422,640
• 10 Day Avg. Volume: 1,509,936
• 30 Day Avg. Volume: 1,866,928
• 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: 0.95
• Enterprise Value/Revenue: 791.24
• Enterprise Value/Gross Profit: -79.67
• Enterprise Value/Ebitda: -23.56
• 1Y Price Target: $22.00
• Price Target Upside: 27.98% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.56
• Revenue Forecast (FY): $4.28M

• Rating: 45 Neutral
• Price Target: $15.00 ▼(-12.74% Downside)
• Action: Reiterated Date: 02/24/26
• Date: Action: Reiterated 02/24/26

The score is primarily held back by weak financial performance (small/volatile revenue, ongoing operating losses, and multi-year cash burn). Technical signals are also soft (negative MACD, sub-50 RSI, and price below key short-term averages). Corporate events are a partial positive due to improved financing/transaction clarity, while valuation offers limited support given the negative P/E and no dividend yield.

Positive Factors

High Gross Margin

A mid-60% gross margin indicates strong unit economics on mined product and processing, which supports long-term project viability once production scales. Durable margins help absorb operating variability and underpin future free-cash-flow potential as volumes grow.

Improved Leverage / No Debt TTM

Moving to no reported debt in the trailing period materially lowers financial risk and increases strategic flexibility. With reduced leverage the company can better access project financing, avoid strained covenants, and prioritize capital deployment for development rather than interest service.

Project-Level Financing Secured

A committed $200M credit facility is a structural financing milestone that de-risks construction and advances Santa Cruz toward production. Project-level credit supports staged development, attracts co-investors, and reduces near-term reliance on equity raises, improving execution visibility.

Negative Factors

Chronic Cash Burn

Sustained negative operating and free cash flow across multiple years indicates the business cannot self-fund development and will rely on external capital. Over time this raises dilution and execution risk, and constrains the company's ability to sustain expansions or weather commodity cycles.

Small, Volatile Revenue

Very small and volatile revenue undermines scale economies and weakens predictability of cash generation. Continued revenue swings limit reinvestment capacity, make margin forecasts less reliable, and raise the likelihood of future funding needs until production stabilizes.

TTM Equity Reported as Zero

A reported trailing-twelve-month equity of zero signals weak capitalization and reduces balance-sheet resilience. This condition can restrict access to unsecured financing, increase cost of capital, and elevate dilution risk if more equity is required to fund projects or cover operating deficits.

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: very small/volatile revenue, sustained operating losses through TTM, and historically heavy cash burn (negative operating and free cash flow in 2020–2024). Balance-sheet leverage has improved (no debt reported in TTM), but TTM equity is reported as zero, limiting confidence in capitalization strength.

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: Positive
• Last Price: 17.19
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 17.19 is above the 20-day moving average (MA) of 16.82, above the 50-day MA of 16.99, and above the 200-day MA of 12.41, indicating a bullish trend. The MACD of -0.30 indicates Negative momentum. The RSI at 52.64 is Neutral, neither overbought nor oversold. The STOCH value of 82.44 is Negative, 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	73 Outperform	$1.44B	13.76	21.35%	―	6.48%	168.94%
DBD	65 Neutral	$2.81B	30.99	4.66%	―	-2.86%	985.78%
GRND	65 Neutral	$2.10B	25.97	―	―	28.97%	-4.18%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ALKT	51 Neutral	$1.76B	-36.11	-13.25%	―	30.72%	9.70%
IE	45 Neutral	$2.71B	-21.61	-30.92%	―	13.58%	74.26%

Ivanhoe Electric Inc. Corporate Events

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.

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.