Ivanhoe Electric
Develops Arizona copper while selling Typhoon-enabled geophysical data and software.
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Profile
Develops the Santa Cruz copper project and U.S. critical-metals prospects, while selling Typhoon-enabled geophysical data processing and software through CGI. Mining assets have not yet generated revenue, leaving the group capital-funded and its current revenue concentrated in CGI services.
Develops the Santa Cruz Copper Project in Arizona, its sole material mineral project, alongside critical-metals exploration interests. The planned project couples an underground mine with onsite copper-cathode processing, while construction and eventual mining revenue remain contingent on financing, production permits, building and commissioning.
Deploys proprietary Typhoon electrical-geophysical systems and CGI subsurface data processing, modelling, software and artificial-intelligence services for internal targets and outside mining, oil-and-gas, geothermal and water clients. CGI currently provides all revenue; the mining projects do not yet produce revenue.
Builds and installs vanadium-flow battery systems through VRB Energy. Wholly owned mineral assets are concentrated in the United States, while partnerships extend to Saudi Arabia and Chile; access and project advancement depend on partner funding and joint decisions.
Company facts
Key statistics
Year to date −31.6% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 7, 2026Q2 FY26 | −$0.12 | −$0.16 | −37.1% | $1.0M | $1.0M | 0.0% | −0.18% |
| Aug 6, 2026Q2 FY26 | −$0.12 | −$0.16 | −37.1% | $1.0M | $724.0K | −27.6% | +0.47% |
| May 7, 2026Q1 FY26 | −$0.15 | −$0.26 | −73.3% | $901.6K | $858.0K | −4.8% | +1.31% |
| Feb 23, 2026Q4 FY25 | −$0.21 | −$0.24 | −14.3% | $545.0K | $896.0K | +64.4% | +5.07% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $735.0K | $1.1M | $545.0K | $896.0K | $858.0K | $724.0K | |
| Gross profit | $442.0K | −$14.0M | $279.0K | −$18.9M | −$23.3M | $368.0K | |
| Operating income | −$27.0M | −$23.1M | −$23.6M | −$37.3M | −$28.0M | −$21.5M | |
| Net income | −$30.5M | −$23.9M | −$17.5M | −$34.0M | $41.7M | −$24.7M | |
| Diluted EPS | −$0.24 | −$0.18 | −$0.13 | −$0.24 | $0.26 | −$0.16 | |
| Gross margin | 60.1% | -1,315.0% | 51.2% | -2,108.7% | -2,711.5% | 50.8% | |
| Operating margin | -3,674.0% | -2,161.0% | -4,328.3% | -4,167.7% | -3,259.6% | -2,966.9% |
Fiscal years (4-quarter sums)FY24 $2.9M · FY25 $3.2M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $256.9M · Total debt $36.6M · Total assets $584.8M · Shareholders' equity $525.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 158.29M · Float 125.96M · 79.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 15.22M | 9.62% | 13F | Aug 7, 2026 |
| Robert Martin Friedland | 13.27M | 9.00% | 13G | Jan 28, 2026 |
| T. Rowe Price Associates, Inc. | 12.06M | 7.70% | 13G | May 15, 2026 |
| Price T Rowe Associates Inc /MD/ | 11.08M | 7.00% | 13F | Aug 14, 2026 |
| State Street Corp | 10.74M | 6.79% | 13F | Aug 7, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Hudbay Minerals
Arizona copper-cathode projects challenge Santa Cruz development.
- TKO Group
Florence Copper is a direct Arizona refined-copper supply rival.
- ESS Tech
Iron-flow storage substitutes for Gen3 VRB-ESS in long-duration bids.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ivanhoe Electric | $11.28 | +0.85% | $1.77B | — | — | 585.9 | −32.2% |
| Hudbay Minerals | $29.00 | −1.01% | $13.01B | 17.3 | 16.2 | 5.2 | +17.7% |
| TKO Group | $185.76 | +0.63% | $13.84B | 63.7 | 33.1 | 2.6 | +18.2% |
| ESS Tech | $0.3510 | +0.72% | $10.3M | — | — | — | −96.9% |
| Median | 40.5 | 24.6 | 3.9 | +17.7% |