Ivanhoe Electric (IE) Soars 5.1%: Is Further Upside Left in the Stock?

Ivanhoe Electric (IE) shares ended the last trading session 5.1% higher at $6.21. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.5% loss over the past four weeks.The stock is benefiting from the company's focus on copper exploration which aligns with the rising demand for copper.This mineral exploration company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +34.2%. Revenues are expected to be $0.75 million, down 55.1% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Ivanhoe Electric, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IE going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Ivanhoe Electric belongs to the Zacks Technology Services industry. Another stock from the same industry, Vacasa, Inc. (VCSA), closed the last trading session 0.2% lower at $5.35. Over the past month, VCSA has returned 6.4%.Vacasa's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$3.11. Compared to the company's year-ago EPS, this represents a change of +10.6%. Vacasa currently boasts a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ivanhoe Electric Inc. (IE): Free Stock Analysis Report Vacasa, Inc. (VCSA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks