Ivanhoe Electric (NYSEAMERICAN:IE) Trading Down 8.6%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price fell 8.6% during trading on Monday . The company traded as low as $9.59 and last traded at $9.69. 127,387 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 499,583 shares. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price target on 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 Down 10.4 %

The company has a quick ratio of 5.32, a current ratio of 5.45 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.14 billion, a P/E ratio of -8.72 and a beta of 0.94.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.09). The firm had revenue of $1.67 million for the quarter, compared to analyst estimates of $2.00 million. Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. On average, equities analysts expect that Ivanhoe Electric Inc. will post -1.15 EPS for the current fiscal year.

Insider Transactions at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd purchased 4,000 shares of Ivanhoe Electric stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $7.44 per share, with a total value of $29,760.00. Following the completion of the transaction, the vice president now owns 6,510 shares of the company’s stock, valued at approximately $48,434.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Spartan Fund Management Inc. acquired a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $61,000. Avior Wealth Management LLC lifted its position in shares of Ivanhoe Electric by 39.4% in the third quarter. Avior Wealth Management LLC now owns 5,726 shares of the company’s stock valued at $68,000 after buying an additional 1,617 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Ivanhoe Electric by 118.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock valued at $73,000 after buying an additional 3,307 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Ivanhoe Electric in the fourth quarter valued at approximately $89,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of 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 buying an additional 4,967 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

About Ivanhoe Electric

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.