Ivanhoe Electric Soars on Santa Cruz Copper Project Update
Ivanhoe Electric (IE) has released an updated Preliminary Feasibility Study (PFS) for its Santa Cruz Copper Project, replacing a June 2025 report and changing how investors evaluate the asset. The study indicates that the project is planned as a high-grade, first-quartile cost copper operation with life of mine cash operating costs of about US$1.47 per pound and an all-in sustaining cost of US$2.28 per pound.
The updated PFS-driven momentum has lifted Ivanhoe Electric's share price 9.78% over the past 90 days and 3.47% on a 30-day basis, despite being down 36.15% year-to-date and 16.08% on a one-year total shareholder return.
The market now values IE at $10.44 per share, which suggests that it is undervalued by as much as 51%, according to some estimates. The fair value of about $21.42 hinges on the Santa Cruz Copper Project moving from study to execution.