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Explores and develops copper and critical-mineral deposits in the US using proprietary geophysical survey technology.
Explores and develops copper and critical-mineral deposits in the US using proprietary geophysical survey technology.
Pays for exploration with share sales rather than revenue, since Santa Cruz is still being studied and Tintic is at an earlier stage. The small revenue it has comes from selling geophysical services and equipment built on the Typhoon system to other explorers. Robert Friedland, the mining entrepreneur, is the founder and executive chairman.
Moat: narrow (IP / patents, process know-how). Proprietary deep-penetrating geophysical technology (Typhoon) helps find deposits others miss.
Headquarters: Vancouver, British Columbia, Canada · Founded: 2020 · Employees: 286
Size Ivanhoe Electric (IE) is a United States Materials company (Other Metals/Minerals) with a market value of $1.21B, the 2136th largest of 3,117 United States companies the cockpit tracks. Shares closed at $7.58 on 6 Nov 2026.
Performance Over six months the shares fell 45.5%, against -24.0% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue fell 20.6% over the last twelve months (peer median +45.4%); the operating margin is -3,915.9% (peer median 6.2%).
Valuation It trades at 2.30× book value against a peer median of 3.43× (7th cheapest of 18).
Price implies The share price implies a return on equity of about 22.7%; Ivanhoe Electric delivers -8.4%, so the price asks more than the business earns today.
Short interest Short interest is 7.1% of the free float (15 Oct 2026).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.02M | $3.24M | $2.90M | $3.90M | $8.44M |
| Revenue growth | — | +12% | -26% | -54% | — |
| Gross profit | -$78.9M | -$64.1M | -$132M | -$128M | -$105M |
| EBITDA | -$116M | -$108M | -$174M | -$178M | -$127M |
| Net income | -$34.4M | -$106M | -$129M | -$199M | -$150M |
| Free cash flow | -$146M | -$93.2M | -$165M | -$152M | -$124M |
| Capital expenditure | $29.3M | $5.11M | $13.6M | $82.1M | $8.51M |
| Total debt | $36.6M | $35.9M | $69.9M | $79.2M | $27.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Ivanhoe Electric IE | $1.21B | -45% | -21% | -8% | 2.30× | 22.7% |
| Ero Copper ERO.TO | $3.03B | +10% | +106% | 35% | 2.25× | 23.0% |
| Hudbay Minerals HBM.TO | $9.35B | -10% | +13% | 17% | 1.92× | 26.8% |
| Trekor Metals TKO.TO | $2.57B | -1% | +68% | 2% | 4.21× | 49.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.5% | -17.6% | 8th lowest of 21 |
| 6-month return | -45.5% | -24.0% | 6th lowest of 20 |
| Return on equity | -8.4% | 8.3% | 6th lowest of 19 |
| Price / book | 2.30× | 3.43× | 7th cheapest of 18 |
| ROE the price implies | 22.7% | 29.7% | 8th least demanding of 18 |
| ROE delivered | -8.4% | 7.6% | 6th lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Ivanhoe Electric IE | United States | $1.21B | -45% | -21% | -8% | 2.30× | 22.7% | -8.4% |
| Faraday Copper FDY.TO | Canada | $1.21B | -18% | n/a | -46% | 8.07× | 95.4% | -46.4% |
| Solaris Resources SLS.TO | Canada | $1.19B | -28% | n/a | n/a | n/a | n/a | n/a |
| Eramet ERA.PA | France | $1.19B | -38% | 0% | -70% | 2.40× | 16.0% | -70.0% |
| North Long Dragon New Materials Tech 301357.SZ | China | $1.23B | -20% | -9% | -2% | 7.42× | 91.3% | -2.3% |
| Evolution Metals & Technologies EMAT | United States | $1.23B | -79% | n/a | n/a | n/a | n/a | n/a |
| Gravita India GRAVITA.NS | India | $1.17B | -17% | +24% | 16% | 4.11× | 67.0% | 16.2% |
| Collective Mining CNL.TO | Canada | $1.17B | -22% | n/a | -60% | 10.64× | 54.5% | -60.1% |
| Jiangxi Jiangnan New Material Technology 603124.SS | China | $1.16B | -37% | +19% | 16% | 5.68× | 101.0% | 16.4% |
| Uranium Royalty UROY | United States | $1.16B | -24% | +1,570% | 15% | 1.20× | 14.2% | n/a |
| Nanjing Hanrui Cobalt 300618.SZ | China | $1.27B | -49% | +11% | -1% | 1.42× | 19.6% | -0.6% |
| Alphamin Resources AFM.V | Canada | $1.12B | -15% | +45% | 56% | 2.81× | 17.8% | 55.8% |
| Londian Wason New Energy Tech, Inc. Unsponsored ADR FOIL | United States | $1.11B | n/a | +25% | 0% | 1.38× | 26.3% | n/a |
| Xizang Zhihui Mining 2546.HK | Hong Kong | $1.08B | +8% | +104% | 11% | 4.37× | 37.8% | n/a |
| Zimplats ZIM.AX | Australia | $1.06B | -15% | +50% | 14% | 0.50× | 6.3% | 14.0% |
| Jain Resource Recycling JAINREC.NS | India | $1.05B | -43% | +48% | 23% | 5.74× | 39.5% | 23.0% |
| Americas Gold and Silver USA.TO | Canada | $1.05B | -50% | +86% | -27% | 3.49× | 44.3% | -27.1% |
| Innuovo Technology 000795.SZ | China | $1.42B | -8% | +21% | 9% | 3.43× | 29.7% | 9.5% |
| Liontown LTR.AX | Australia | $1.43B | -75% | +115% | 9% | 1.39× | 20.5% | 9.0% |
| TMC TMC | United States | $1.00B | -60% | n/a | -1,123% | n/a | n/a | -1,123.2% |
| Jinchuan Group International Resources 2362.HK | Hong Kong | $997M | +4% | +65% | 8% | 0.98× | 8.9% | 7.6% |