Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) dropped 6.5% on Friday . The company traded as low as $8.13 and last traded at $7.97. Approximately 171,732 shares traded hands during mid-day 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 research analysts have recently weighed in on IE shares. JPMorgan Chase & Co. reduced their target price on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Raymond James Financial set a $15.00 price objective on Ivanhoe Electric and gave the company an "outperform" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $12.88.
Read Our Latest Stock Analysis on IE
Ivanhoe Electric Price Performance
The company has a market capitalization of $1.05 billion, a PE ratio of -9.29 and a beta of 0.78. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average is $6.95 and its 200-day moving average is $7.44.
Institutional Trading of Ivanhoe Electric
A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock valued at $65,000 after acquiring an additional 9,119 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Ivanhoe Electric in the first quarter worth about $67,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ivanhoe Electric in the 4th quarter worth approximately $80,000. BNP Paribas Financial Markets purchased a new stake in Ivanhoe Electric in the fourth quarter worth $89,000. Finally, Eagle Global Advisors LLC lifted its position in Ivanhoe Electric by 19.7% during the first quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company's stock valued at $92,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.
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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