Ivanhoe Electric (NYSEAMERICAN:IE) Lifted to Strong-Buy at Eight Capital

Eight Capital upgraded shares of Ivanhoe Electric (NYSEAMERICAN:IE) to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.

Separately, Scotiabank dropped 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 Stock Down 1.2 %

Shares of IE opened at $8.71 on Thursday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -8.14 and a beta of 0.81. Ivanhoe Electric has a fifty-two week low of $6.31 and a fifty-two week high of $12.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.52 and a current ratio of 3.66.

Ivanhoe Electric (NYSEAMERICAN:IE) 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). The company had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. On average, analysts anticipate that Ivanhoe Electric will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ivanhoe Electric

Several hedge funds have recently bought and sold shares of the company. MQS Management LLC purchased a new position in Ivanhoe Electric in the first quarter valued at $100,000. Principal Financial Group Inc. acquired a new stake in shares of Ivanhoe Electric during the 2nd quarter worth about $106,000. ProShare Advisors LLC lifted 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 last quarter. Capstone Investment Advisors LLC acquired a new position in Ivanhoe Electric in the fourth quarter valued at approximately $151,000. Finally, Sei Investments Co. raised its holdings in Ivanhoe Electric by 11.5% during the first quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock worth $440,000 after purchasing an additional 4,610 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.