Ivanhoe Electric (NYSEAMERICAN:IE) Sets New 12-Month Low – Should You Sell?

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) reached a new 52-week low on Tuesday . The company traded as low as $5.50 and last traded at $5.59, with a volume of 17548 shares traded. The stock had previously closed at $5.71.

Wall Street Analysts Forecast Growth

IE has been the topic of several recent analyst reports. Scotiabank cut their price target on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th. Jefferies Financial Group reduced their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th.

Ivanhoe Electric Stock Down 3.9 %

The company has a market cap of $663.03 million, a PE ratio of -3.45 and a beta of 0.74. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Avior Wealth Management LLC bought a new stake in shares of Ivanhoe Electric in the 3rd quarter worth $32,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ivanhoe Electric in the 4th quarter valued at about $80,000. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric during the 4th quarter valued at about $89,000. Eagle Global Advisors LLC acquired a new position in shares of Ivanhoe Electric in the 4th quarter worth approximately $100,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Ivanhoe Electric in the 4th quarter worth approximately $103,000. 79.05% of the stock is owned by institutional investors and hedge funds.

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.