Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Get Free Report) 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.
Check Out Our Latest Stock Report on IE
Ivanhoe Electric Trading Down 0.1 %
Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) 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.
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