Gold prices hover near record peaks as Fed rate cut bets mount
Investing.com - National Bank Financial initiated coverage on Ivanhoe Electric Inc (NYSE:IE) with an Outperform rating and a price target of C$18.00.
The firm highlighted Ivanhoe Electric as a minerals exploration and development company focused on discovering critical metals using proprietary large-scale exploration technology.
National Bank Financial noted that the company’s flagship Santa Cruz Copper Project in Arizona is expected to provide a domestic source of copper cathode, supporting U.S. supply chain independence goals.
The bank’s analysts pointed to Ivanhoe Electric’s strategic partnerships with two major mining companies, formed to search for copper deposits using its Typhoon technology and 94.3% owned Computational Geosciences Inc.
National Bank Financial’s C$18.00 target price is based on a 1.0x NAV multiple, with the Outperform rating reflecting the Santa Cruz project’s potential to meet growing U.S. copper demand, exploration upside, proprietary technology advantages, and the leadership of Executive Chair Robert Friedland.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.