Ivanhoe Electric (NYSEAMERICAN:IE) Stock Falls 8% – Time to Sell?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price traded down 8% during trading on Wednesday. The company traded as low as $8.41 and last traded at $8.1420. 227,903 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,123,547 shares. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Ivanhoe Electric from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Scotiabank cut their price target on Ivanhoe Electric from $18.00 to $16.00 and set a “sector outperform” rating for the company in a report on Friday, September 25th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.50.

Ivanhoe Electric Stock Down 9.5%

The stock has a fifty day moving average price of $10.38 and a two-hundred day moving average price of $11.16. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -10.11 and a beta of 1.28.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data on Friday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.28. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.00 million. Analysts predict that Ivanhoe Electric Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IE. KBC Group NV purchased a new stake in Ivanhoe Electric during the 1st quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in shares of Ivanhoe Electric by 86.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,648 shares of the company’s stock worth $56,000 after purchasing an additional 2,616 shares during the period. Banque Cantonale Vaudoise boosted its stake in Ivanhoe Electric by 13.5% during the first quarter. Banque Cantonale Vaudoise now owns 22,700 shares of the company’s stock worth $268,000 after buying an additional 2,700 shares during the period. Janus Henderson Group PLC raised its stake in shares of Ivanhoe Electric by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 148,706 shares of the company’s stock valued at $1,757,000 after acquiring an additional 5,750 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Ivanhoe Electric by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 289,828 shares of the company’s stock worth $3,426,000 after buying an additional 6,442 shares during the period. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc is a mineral exploration and technology company focused on the discovery and development of critical mineral deposits. Its exploration activities primarily target copper, nickel, gold and other metals used in electrification, renewable energy infrastructure and advanced technologies.

The company combines conventional geological exploration with its proprietary Typhoon geophysical survey system. Typhoon is designed to identify potential mineral deposits beneath the surface by collecting large-scale electrical data, helping guide drilling and exploration decisions.