Ivanhoe Electric (IE) Hits New All-Time High on Jump in Copper Production

We recently published 10 Big Names With Explosive Growth. Ivanhoe Electric Inc. (NYSEAmerican:IE) is one of the best performers on Wednesday.

Ivanhoe rallied for a second day on Wednesday to hit a new 52-week high as investors cheered a 57-percent increase in copper production during the third quarter, which solidified its full-year targets.

At intra-day trading, Ivanhoe Electric Inc. (NYSEAmerican:IE) soared to its highest price of $14.57 before paring gains marginally to end the day up by 12.63 percent at $14.45 apiece.

In an updated report, Ivanhoe Electric Inc. (NYSEAmerican:IE) said it was able to mine 71,226 tons of copper from July to September, bringing its year-to-date production to 316,393 tons. The figures reaffirmed its earlier guidance of 370,000 to 420,000 tons this year, with mining of higher-grade areas from its Kakula Mine expected to begin next month.

“This quarter should mark a turning point in operations, as we anticipate higher grades from Kakula’s western side from next month, with selective mining of the existing workings on the eastern side of Kakula planned from Q1 2026. We’re also on the cusp of starting operations at Africa’s largest and greenest, direct-to-blister copper smelter, which is expected to drive lower cash costs as we complete its ramp-up,” said Ivanhoe Electric Inc. (NYSEAmerican:IE) founder and co-Chairman Robert Friedland.

“In addition, we are extremely excited for imminent first production at the Platreef Mine, which is on schedule for later this month. Given rising prices and interest in platinum-group metals, we are bringing the world’s next great precious metals complex online at an exceptionally opportune moment. Platreef’s major endowment of nickel, copper, and gold makes it one of the lowest-cost and scalable producers of platinum, palladium, nickel, gold, rhodium, and copper on our planet, and we are already at work on a Phase 2 expansion that will propel Platreef into a Top 10 producer globally,” he noted.

While we acknowledge the potential of IE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.