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

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

Wall Street Analyst Weigh In

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

Ivanhoe Electric Stock Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.19 and a beta of 0.94. 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 announced its quarterly earnings data on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. The company had revenue of $1.67 million for the quarter, compared to analyst estimates of $2.00 million. On average, research analysts forecast that Ivanhoe Electric Inc. will post -1.15 EPS for the current year.

Insider Buying and Selling at Ivanhoe Electric

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd bought 4,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $7.44 per share, with a total value of $29,760.00. Following the completion of the purchase, the vice president now owns 6,510 shares in the company, valued at $48,434.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Ivanhoe Electric

Several institutional investors and hedge funds have recently made changes to their positions in IE. U S Global Investors Inc. grew its position in Ivanhoe Electric by 70.0% during the first quarter. U S Global Investors Inc. now owns 30,596 shares of the company’s stock worth $300,000 after buying an additional 12,598 shares in the last quarter. LexAurum Advisors LLC boosted its holdings in shares of Ivanhoe Electric by 379.8% in the 1st quarter. LexAurum Advisors LLC now owns 51,100 shares of the company’s stock valued at $501,000 after purchasing an additional 40,450 shares in the last quarter. GeoSphere Capital Management LLC acquired a new stake in shares of Ivanhoe Electric in the 4th quarter valued at $504,000. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Ivanhoe Electric by 4.1% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company’s stock valued at $13,722,000 after purchasing an additional 53,045 shares in the last quarter. Finally, Mak Capital One LLC boosted its holdings in shares of Ivanhoe Electric by 30.2% in the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock valued at $12,994,000 after purchasing an additional 299,018 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Company Profile

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.