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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares rose 4.3% during trading on Tuesday . The stock traded as high as $9.91 and last traded at $9.91. Approximately 141,081 shares were traded during trading, a decline of 77% from the average daily volume of 620,584 shares. The stock had previously closed at $9.50.

Analysts Set New Price Targets

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

Ivanhoe Electric Stock Performance

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 quarterly earnings data on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.80. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. The company had revenue of $0.36 million during the quarter, compared to the consensus estimate of $1.00 million. As a group, equities analysts forecast that Ivanhoe Electric Inc. will post -1.14 EPS for the current fiscal 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 dated Monday, May 20th. The shares were sold at an average price of $12.16, for a total value of $304,000.00. Following the completion of the sale, the insider now owns 260,272 shares in the company, valued at approximately $3,164,907.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Ivanhoe Electric

Several hedge funds and other institutional investors have recently made changes to their positions in IE. Centerpoint Advisors LLC bought a new stake in shares of Ivanhoe Electric during the 4th quarter valued at approximately $89,000. Tower Research Capital LLC TRC grew its holdings in Ivanhoe Electric by 112.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company’s stock worth $95,000 after acquiring an additional 4,967 shares during the last quarter. MQS Management LLC bought a new stake in shares of Ivanhoe Electric in the 1st quarter valued at $100,000. LexAurum Advisors LLC bought a new stake in shares of Ivanhoe Electric in the 4th quarter valued at $107,000. Finally, ProShare Advisors LLC boosted its stake in shares of Ivanhoe Electric by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after purchasing an additional 1,043 shares during the last quarter. 79.05% of the stock is currently 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.