Major Estimate Revision • May 14
Consensus revenue estimates decrease by 13%, EPS upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from US$3.77m to US$3.29m. EPS estimate increased from -US$0.755 to -US$0.194 per share. Metals and Mining industry in the US expected to see average net income growth of 43% next year. Consensus price target broadly unchanged at US$21.75. Share price rose 9.5% to US$14.94 over the past week. Reported Earnings • May 11
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: US$0.27 (up from US$0.24 loss in 1Q 2025). Net income: US$41.7m (up US$72.3m from 1Q 2025). Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 62% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. IE
Live News • May 10
Ivanhoe Electric Delivers US$41.7 Million Profit With Alacrán Sale and Expands US Copper Projects Ivanhoe Electric reported Q1 2026 net income attributable to common stockholders of $41.7 million, supported by a $124.7 million gain from the sale of the Alacrán copper-gold project by its majority-owned subsidiary Cordoba.
The company reported higher revenue and moved to profitability compared with the prior-year quarter, with contribution from growth in CGI data processing services.
Exploration spending increased at the Santa Cruz and Hog Heaven projects in the US, and Ivanhoe Electric entered a $9 million copper exploration collaboration with Sociedad Química y Minera.
For investors, the quarter is largely defined by the one-off gain from the Alacrán sale and the company’s decision to channel resources into core US copper projects. The positive net income figure is driven mainly by that $124.7 million gain. The reference to higher revenue and a shift to profitability indicates that the operating side of the business, including CGI data processing services, is playing a larger role than before.
The higher exploration expenditures at Santa Cruz and Hog Heaven, together with the $9 million collaboration with Sociedad Química y Minera, point to a clear focus on building out Ivanhoe Electric’s US copper portfolio and technical capabilities. When reviewing this update, it may be useful to separate non-recurring transaction gains from underlying revenue and spending patterns, and then track how exploration and services activity affects results and funding needs. 
