Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 6.1%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price traded down 6.1% during trading on Tuesday . The company traded as low as $10.39 and last traded at $10.51. 58,786 shares changed hands during trading, a decline of 88% from the average session volume of 500,242 shares. The stock had previously closed at $11.19.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their price target on Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 9th.

Ivanhoe Electric Stock Up 0.3 %

The company has a market capitalization of $1.22 billion, a P/E ratio of -8.89 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.45 and a quick ratio of 5.32.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.09). The company had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $2.00 million. Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. As a group, equities research analysts predict that Ivanhoe Electric Inc. will post -1.15 EPS for the current year.

Insider Activity at Ivanhoe Electric

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average cost of $7.44 per share, with a total value of $29,760.00. Following the completion of the transaction, the vice president now owns 6,510 shares of the company’s stock, valued at approximately $48,434.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ivanhoe Electric

A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ivanhoe Electric by 48.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,779 shares of the company’s stock valued at $176,000 after buying an additional 4,836 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ivanhoe Electric by 3.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 464,781 shares of the company’s stock valued at $5,531,000 after buying an additional 16,695 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Ivanhoe Electric by 118.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock valued at $73,000 after buying an additional 3,307 shares during the period. Jennison Associates LLC bought a new stake in Ivanhoe Electric during the third quarter valued at $6,463,000. Finally, Barclays PLC boosted its stake in Ivanhoe Electric by 21.3% during the third quarter. Barclays PLC now owns 23,643 shares of the company’s stock valued at $281,000 after buying an additional 4,154 shares during the period. 79.05% of the stock is owned by institutional investors.

About Ivanhoe Electric

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.