Ivanhoe Electric (NYSEAMERICAN:IE) Reaches New 1-Year Low at $7.05

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.05 and last traded at $7.05, with a volume of 24609 shares trading hands. The stock had previously closed at $7.23.

Wall Street Analyst Weigh In

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

Ivanhoe Electric Trading Down 0.1 %

The company has a quick ratio of 4.76, a current ratio of 4.89 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $868.64 million, a P/E ratio of -6.73 and a beta of 0.85.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, topping 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 firm had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $1.00 million. Research analysts expect that Ivanhoe Electric Inc. will post -1.18 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Mark Andrew Stuart Gibson sold 28,344 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $12.45, for a total transaction of $352,882.80. Following the completion of the sale, the chief operating officer now owns 301,928 shares of the company’s stock, valued at $3,759,003.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. MQS Management LLC purchased a new stake in shares of Ivanhoe Electric in the first quarter valued at about $100,000. Principal Financial Group Inc. purchased a new stake in Ivanhoe Electric in the 2nd quarter valued at about $106,000. ProShare Advisors LLC lifted its position in shares of Ivanhoe Electric by 10.0% during the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after buying an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Ivanhoe Electric during the fourth quarter valued at approximately $151,000. Finally, Avior Wealth Management LLC boosted its position in Ivanhoe Electric by 164.7% in the fourth quarter. Avior Wealth Management LLC now owns 15,158 shares of the company’s stock worth $153,000 after purchasing an additional 9,432 shares during the last quarter. 79.05% of the stock is currently 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.