Ivanhoe Electric (NYSEAMERICAN:IE) Shares Up 6.4%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price shot up 6.4% on Thursday . The stock traded as high as $9.69 and last traded at $9.69. 94,955 shares were traded during mid-day trading, a decline of 80% from the average session volume of 478,125 shares. The stock had previously closed at $9.11.

Ivanhoe Electric Price Performance

The stock has a market cap of $1.18 billion, a PE ratio of -8.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.32 and a current ratio of 5.45.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). Ivanhoe Electric had a negative net margin of 3,259.77% and a negative return on equity of 46.23%. The firm had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $2.00 million. As a group, equities research analysts expect that Ivanhoe Electric Inc. will post -1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd acquired 4,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $7.44 per share, for a total transaction of $29,760.00. Following the completion of the acquisition, the vice president now owns 6,510 shares in the company, valued at $48,434.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Ivanhoe Electric

A number of hedge funds and other institutional investors have recently modified their holdings of IE. Osaic Holdings Inc. purchased a new position in Ivanhoe Electric during the second quarter valued at $26,000. UBS Group AG bought a new position in Ivanhoe Electric during the second quarter valued at $26,000. Barclays PLC lifted its position in Ivanhoe Electric by 533.5% during the fourth quarter. Barclays PLC now owns 3,896 shares of the company’s stock valued at $47,000 after purchasing an additional 3,281 shares during the last quarter. California State Teachers Retirement System bought a new position in Ivanhoe Electric during the third quarter valued at $47,000. Finally, Tower Research Capital LLC TRC lifted its position in Ivanhoe Electric by 671.1% during the third quarter. Tower Research Capital LLC TRC now owns 4,434 shares of the company’s stock valued at $53,000 after purchasing an additional 3,859 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Ivanhoe Electric Company Profile