Ivanhoe Electric (NYSEAMERICAN:IE) Trading Down 5.6%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s stock price traded down 5.6% on Tuesday . The stock traded as low as $10.02 and last traded at $10.05. 278,992 shares were traded during trading, a decline of 44% from the average session volume of 494,984 shares. The stock had previously closed at $10.65.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their price objective on shares of 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 Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 5.45 and a quick ratio of 5.32. The stock has a market cap of $1.27 billion, a PE ratio of -9.15 and a beta of 0.94.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its earnings results on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $2.00 million. Sell-side analysts anticipate that Ivanhoe Electric Inc. will post -1.15 EPS for the current year.

Insider Transactions at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd acquired 4,000 shares of the company’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 acquisition, the vice president now directly owns 6,510 shares of the company’s stock, valued at $48,434.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Ivanhoe Electric

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Ivanhoe Electric by 8.7% during the 2nd quarter. Royal Bank of Canada now owns 10,304 shares of the company’s stock valued at $135,000 after purchasing an additional 822 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Ivanhoe Electric by 23.8% during the second quarter. Ameritas Investment Partners Inc. now owns 4,608 shares of the company’s stock worth $60,000 after buying an additional 886 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Ivanhoe Electric by 4.3% during the fourth quarter. Susquehanna International Group LLP now owns 29,361 shares of the company’s stock worth $357,000 after buying an additional 1,220 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Ivanhoe Electric by 2.2% in the 1st quarter. Sei Investments Co. now owns 59,351 shares of the company’s stock valued at $721,000 after acquiring an additional 1,272 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ivanhoe Electric by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,348 shares of the company’s stock valued at $405,000 after acquiring an additional 1,338 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.