Ivanhoe Electric (NYSEAMERICAN:IE) Shares Climb 5.1% - Time to Buy?

Key Points

• Ivanhoe Electric shares rose 5.1% to approximately $9.18, although trading volume was 83% below the stock’s average daily volume.
• Analysts remain bullish overall, with a consensus “Buy” rating and a $15.50 target price, despite Scotiabank and JPMorgan recently lowering their targets.
• The company exceeded quarterly EPS expectations but missed revenue estimates and continues to report significant losses; institutional investors own 79.05% of outstanding shares.

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) shares were up 5.1% during mid-day trading on Friday. The stock traded as high as $9.12 and last traded at $9.1750. 366,696 shares were traded during trading, a decline of 83% from the average daily volume of 2,136,677 shares. The stock had previously closed at $8.73.

Wall Street Analysts Forecast Growth

Several research firms have commented on IE. Scotiabank dropped their price target on shares of Ivanhoe Electric from $18.00 to $16.00 and set a "sector outperform" rating for the company in a research note on Friday, September 25th. JPMorgan Chase & Co. cut their target price on shares of Ivanhoe Electric from $20.00 to $15.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Ivanhoe Electric has a consensus rating of "Buy" and a consensus target price of $15.50.

Ivanhoe Electric Stock Performance

The business's 50-day moving average is $10.29 and its two-hundred day moving average is $11.12. The stock has a market capitalization of $1.41 billion, a PE ratio of -11.20 and a beta of 1.28.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.28. The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%. Equities analysts forecast that Ivanhoe Electric Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Ivanhoe Electric

Several hedge funds have recently modified their holdings of IE. KBC Group NV acquired a new stake in Ivanhoe Electric in the 1st quarter worth about $28,000. GAMMA Investing LLC grew its stake in Ivanhoe Electric by 86.3% during the third quarter. GAMMA Investing LLC now owns 5,648 shares of the company's stock worth $56,000 after buying an additional 2,616 shares during the period. Summit Securities Group LLC increased its position in shares of Ivanhoe Electric by 146.5% in the first quarter. Summit Securities Group LLC now owns 6,000 shares of the company's stock worth $71,000 after acquiring an additional 18,900 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Ivanhoe Electric during the 1st quarter valued at $81,000. Finally, J. Derek Lewis & Associates Inc. purchased a new stake in Ivanhoe Electric during the 1st quarter worth $118,000. 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.

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