Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price dropped 6.5% during mid-day trading on Friday . The stock traded as low as $8.13 and last traded at $7.97. Approximately 171,732 shares traded hands during trading, a decline of 78% from the average daily volume of 779,529 shares. The stock had previously closed at $8.52.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Raymond James Financial set a $15.00 target price on shares of Ivanhoe Electric and gave the company an "outperform" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. decreased their price objective on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $12.88.
Read Our Latest Research Report on IE
Ivanhoe Electric Stock Performance
The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.07 and a current ratio of 3.07. The stock has a market cap of $1.09 billion, a PE ratio of -9.69 and a beta of 0.78. The firm has a fifty day moving average price of $7.00 and a 200 day moving average price of $7.42.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of IE. Rhumbline Advisers boosted its holdings in shares of Ivanhoe Electric by 6.5% in the 4th quarter. Rhumbline Advisers now owns 106,923 shares of the company's stock valued at $807,000 after acquiring an additional 6,505 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ivanhoe Electric by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company's stock valued at $5,348,000 after purchasing an additional 5,535 shares during the period. Arizona State Retirement System purchased a new stake in Ivanhoe Electric in the fourth quarter valued at $171,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ivanhoe Electric in the fourth quarter valued at $80,000. Finally, Swiss National Bank grew its position in Ivanhoe Electric by 8.4% during the 4th quarter. Swiss National Bank now owns 153,900 shares of the company's stock worth $1,162,000 after purchasing an additional 11,900 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.
About Ivanhoe Electric
(
Get Free Report)
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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