Topic: How To Invest

Q: Pat: With electric vehicles coming to the forefront, what do you think of Ivanhoe Electric as a buy? Thanks.

Article Excerpt

A: Ivanhoe Electric Inc., $21.16, symbol IE on Toronto (Shares outstanding: 103.8 million; Market cap: $2.2 billion; www.ivanhoeelectric.comwww.ivanhoeelectric.com), aims to produce copper and other minerals, such as cobalt and nickel, necessary for the production of electric vehicles (EVs) and clean-energy technology. Ivanhoe currently owns the Santa Cruz copper project in Arizona, which it believes is the second-largest copper deposit in the U.S. It also holds rights to the Tintic gold-copper mine in Utah and the Hog Heaven silver-gold-copper project in Montana. The company launched its IPO in June 2022, selling 14.4 million shares at the new-issue price of $11.75 U.S. ($15.12 Cdn.) each. Ivanhoe Electric is using part of the proceeds from the IPO to fund the development of its Typhoon technology; it’s used in geological surveys for mineral exploration. As well, through its 90% ownership of VRB Energy, the company aims to expand in the design, manufacture, installation, and operation of large-scale energy storage systems. In January 2023, Ivanhoe announced a joint venture…