Topic: How To Invest

Q: With more and more electric vehicles coming in the future, what do you think of Ivanhoe Electric as a buy?

Article Excerpt

A: Ivanhoe Electric Inc., $15.86, symbol IE on Toronto (Shares outstanding: 120.3 million; Market cap: $2.0 billion; www.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 used part of the proceeds from the IPO to fund the development of its Typhoon technology, which is 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…