Ivanhoe Electric (NYSEAMERICAN:IE) Stock Falls 6.2% – Time to Sell?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares dropped 6.2% during trading on Wednesday. The stock traded as low as $10.05 and last traded at $9.9850. 1,406,767 shares were traded during mid-day trading, a decline of 34% from the average session volume of 2,132,149 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of research analysts have issued reports on IE shares. Scotiabank reduced their price objective on shares of Ivanhoe Electric from $18.00 to $16.00 and set a “sector outperform” rating on the stock in a research report on Friday, September 25th. JPMorgan Chase & Co. cut their price objective on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ivanhoe Electric has a consensus rating of “Buy” and an average target price of $17.33.

Ivanhoe Electric Stock Performance

The stock has a market cap of $1.60 billion, a PE ratio of -12.66 and a beta of 1.28. The stock has a fifty day moving average price of $10.30 and a 200 day moving average price of $11.26.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its earnings results on Friday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.28. The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%. As a group, equities analysts anticipate that Ivanhoe Electric Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Ivanhoe Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goehring & Rozencwajg Associates LLC increased its position in shares of Ivanhoe Electric by 18.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,115,009 shares of the company’s stock worth $24,999,000 after purchasing an additional 327,112 shares in the last quarter. Invst LLC acquired a new stake in Ivanhoe Electric in the 2nd quarter valued at approximately $1,276,000. MFN Partners Management LP acquired a new position in Ivanhoe Electric during the 2nd quarter worth about $24,536,166. Moore Capital Management LP acquired a new position in shares of Ivanhoe Electric in the second quarter valued at approximately $3,146,000. Finally, Kopernik Global Investors LLC raised its stake in shares of Ivanhoe Electric by 316.1% in the first quarter. Kopernik Global Investors LLC now owns 1,784,170 shares of the company’s stock valued at $21,089,000 after acquiring an additional 1,355,418 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

About Ivanhoe Electric

Ivanhoe Electric Inc is a mineral exploration and technology company focused on the discovery and development of critical mineral deposits. Its exploration activities primarily target copper, nickel, gold and other metals used in electrification, renewable energy infrastructure and advanced technologies.

The company combines conventional geological exploration with its proprietary Typhoon geophysical survey system. Typhoon is designed to identify potential mineral deposits beneath the surface by collecting large-scale electrical data, helping guide drilling and exploration decisions.