Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 5.3% – What’s Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) traded up 5.3% during trading on Wednesday . The stock traded as high as $9.73 and last traded at $9.73. 53,998 shares were traded during trading, a decline of 92% from the average session volume of 672,782 shares. The stock had previously closed at $9.24.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank decreased their price objective on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.

Ivanhoe Electric Price 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. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.43 and a beta of 0.82.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. The company had revenue of $0.54 million for the quarter, compared to analyst estimates of $1.00 million. Sell-side analysts forecast that Ivanhoe Electric Inc. will post -1.39 EPS for the current year.

Institutional Trading of Ivanhoe Electric

Several large investors have recently added to or reduced their stakes in the company. Mak Capital One LLC raised its stake in shares of Ivanhoe Electric by 21.6% in the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock worth $16,705,000 after purchasing an additional 316,903 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its holdings in Ivanhoe Electric by 13.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after buying an additional 199,400 shares during the period. Vanguard Group Inc. raised its position in Ivanhoe Electric by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock worth $6,689,000 after buying an additional 42,843 shares during the last quarter. Jennison Associates LLC lifted its stake in Ivanhoe Electric by 2.8% during the 1st quarter. Jennison Associates LLC now owns 547,651 shares of the company’s stock valued at $5,367,000 after acquiring an additional 15,081 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Ivanhoe Electric by 432.6% in the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after acquiring an additional 244,341 shares during the last quarter. Hedge funds and other institutional investors 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.