Ivanhoe Electric (NYSEAMERICAN:IE) Trading Down 7.5%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares traded down 7.5% during mid-day trading on Monday . The company traded as low as $7.13 and last traded at $7.17. 652,491 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 653,296 shares. The stock had previously closed at $7.75.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their price objective on shares of Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a research note on Monday, August 19th.

Ivanhoe Electric Trading Down 5.8 %

The stock has a market cap of $878.92 million, a price-to-earnings ratio of -6.77 and a beta of 0.81. The company has a quick ratio of 3.52, a current ratio of 3.66 and a debt-to-equity ratio of 0.22.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. As a group, equities analysts predict that Ivanhoe Electric Inc. will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IE. Primecap Management Co. CA lifted its stake in Ivanhoe Electric by 3.7% in the 4th quarter. Primecap Management Co. CA now owns 425,800 shares of the company’s stock worth $4,292,000 after purchasing an additional 15,002 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Ivanhoe Electric during the fourth quarter worth approximately $151,000. Mak Capital One LLC boosted its position in shares of Ivanhoe Electric by 30.2% during the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock valued at $12,994,000 after acquiring an additional 299,018 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in 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 during the last quarter. Finally, GeoSphere Capital Management LLC purchased a new position in Ivanhoe Electric in the fourth quarter worth approximately $504,000. 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.