Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 3.9% – Time to Sell?

by · The Cerbat Gem

Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Get Free Report) shares fell 3.9% on Wednesday . The company traded as low as $8.56 and last traded at $8.59. 119,343 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 681,120 shares. The stock had previously closed at $8.94.

Analysts Set New Price Targets

IE has been the topic of several research analyst reports. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank cut their target price on shares of Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating on the stock in a report on Monday, August 19th.

View Our Latest Report on IE

Ivanhoe Electric Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52.

Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. The business had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $1.00 million. On average, sell-side analysts predict that Ivanhoe Electric Inc. will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Ivanhoe Electric

Hedge funds and other institutional investors have recently modified their holdings of the company. MQS Management LLC acquired a new position in shares of Ivanhoe Electric during the 1st quarter valued at about $100,000. Principal Financial Group Inc. acquired a new position in Ivanhoe Electric during the second quarter worth approximately $106,000. ProShare Advisors LLC raised its stake in Ivanhoe Electric by 10.0% during the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after purchasing an additional 1,043 shares during the period. Capstone Investment Advisors LLC boosted its holdings in shares of Ivanhoe Electric by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock valued at $160,000 after purchasing an additional 1,350 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Ivanhoe Electric during the 3rd quarter valued at $431,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

About Ivanhoe Electric

(Get Free Report)

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.

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