Ivanhoe Electric (NYSEAMERICAN:IE) Shares Down 5.6%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $10.02 and last traded at $10.05. 278,992 shares were traded during mid-day trading, a decline of 44% from the average session volume of 494,984 shares. The stock had previously closed at $10.65.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price objective on shares of Ivanhoe Electric from $15.50 to $14.50 and set a "sector outperform" rating on the stock in a report on Tuesday, April 9th.

Ivanhoe Electric Price Performance

The company has a quick ratio of 5.32, a current ratio of 5.45 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -8.99 and a beta of 0.94.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported ($0.38) 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 business had revenue of $1.67 million for the quarter, compared to the consensus estimate of $2.00 million. On average, equities research analysts forecast that Ivanhoe Electric Inc. will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Graham Richard Thomas Boyd purchased 4,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $7.44 per share, with a total value of $29,760.00. Following the completion of the purchase, the vice president now owns 6,510 shares of the company's stock, valued at approximately $48,434.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. acquired a new position in shares of Ivanhoe Electric in the second quarter worth about $26,000. UBS Group AG purchased a new stake in Ivanhoe Electric during the 2nd quarter valued at about $26,000. Barclays PLC grew its stake in shares of Ivanhoe Electric by 533.5% in the 4th quarter. Barclays PLC now owns 3,896 shares of the company's stock valued at $47,000 after buying an additional 3,281 shares during the period. California State Teachers Retirement System purchased a new stake in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $47,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Ivanhoe Electric by 671.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,434 shares of the company's stock valued at $53,000 after buying an additional 3,859 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.