Ivanhoe Electric (NYSEAMERICAN:IE) Shares Down 8.6%

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

Analyst Ratings Changes

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

Ivanhoe Electric Trading Up 0.3 %

The company has a current ratio of 5.45, a quick ratio of 5.32 and a debt-to-equity ratio of 0.17.

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

Insider Buying and Selling at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd acquired 4,000 shares of Ivanhoe Electric stock in a transaction on Thursday, February 29th. The shares were acquired at an average cost of $7.44 per share, with a total value of $29,760.00. Following the transaction, the vice president now owns 6,510 shares in the company, valued at $48,434.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Ivanhoe Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC increased its holdings in Ivanhoe Electric by 39.4% in the 3rd quarter. Avior Wealth Management LLC now owns 5,726 shares of the company’s stock worth $68,000 after acquiring an additional 1,617 shares in the last quarter. Spartan Fund Management Inc. bought a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $61,000. BW Gestao de Investimentos Ltda. bought a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $1,488,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ivanhoe Electric by 48.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,779 shares of the company’s stock valued at $176,000 after acquiring an additional 4,836 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ivanhoe Electric by 3.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 464,781 shares of the company’s stock valued at $5,531,000 after acquiring an additional 16,695 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

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.