Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 4.3%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price traded up 4.3% during mid-day trading on Tuesday . The company traded as high as $9.91 and last traded at $9.91. 141,081 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 620,584 shares. The stock had previously closed at $9.50.

Analysts Set New Price Targets

Separately, Scotiabank lowered their target price on shares of Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 9th.

Ivanhoe Electric Stock Up 3.7 %

The company has a current ratio of 4.89, a quick ratio of 4.76 and a debt-to-equity ratio of 0.19.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.80. The business had revenue of $0.36 million for the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. On average, sell-side analysts forecast that Ivanhoe Electric Inc. will post -1.14 EPS for the current year.

Insiders Place Their Bets

In other Ivanhoe Electric news, insider Mark Andrew Stuart Gibson sold 25,000 shares of Ivanhoe Electric stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $12.16, for a total transaction of $304,000.00. Following the transaction, the insider now directly owns 260,272 shares of the company’s stock, valued at $3,164,907.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IE. ProShare Advisors LLC boosted its holdings in Ivanhoe Electric by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after acquiring an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC boosted its holdings in Ivanhoe Electric by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock valued at $160,000 after acquiring an additional 1,350 shares in the last quarter. Sei Investments Co. boosted its holdings in Ivanhoe Electric by 11.5% in the first quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after acquiring an additional 4,610 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Ivanhoe Electric by 112.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company’s stock valued at $95,000 after acquiring an additional 4,967 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Ivanhoe Electric by 23.0% in the fourth quarter. New York State Common Retirement Fund now owns 30,067 shares of the company’s stock valued at $303,000 after acquiring an additional 5,628 shares in the last quarter. 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.