Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 8.8%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares were up 8.8% during trading on Friday . The stock traded as high as $10.43 and last traded at $10.39. Approximately 335,685 shares changed hands during trading, a decline of 33% from the average daily volume of 498,397 shares. The stock had previously closed at $9.55.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price target on shares of Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 9th.

Ivanhoe Electric Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.32 and a current ratio of 5.45. The stock has a market capitalization of $1.28 billion, a P/E ratio of -9.28 and a beta of 0.94.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its earnings results on Monday, February 26th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.09). Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. The firm had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $2.00 million. On average, sell-side analysts anticipate that Ivanhoe Electric Inc. will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Ivanhoe Electric

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd acquired 4,000 shares of Ivanhoe Electric stock in a transaction on Thursday, February 29th. The shares were bought 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 in the company, valued at $48,434.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Spartan Fund Management Inc. acquired a new position in Ivanhoe Electric in the 3rd quarter valued at $61,000. Avior Wealth Management LLC raised its stake in shares of Ivanhoe Electric by 39.4% during the third quarter. Avior Wealth Management LLC now owns 5,726 shares of the company’s stock valued at $68,000 after acquiring an additional 1,617 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Ivanhoe Electric by 118.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock valued at $73,000 after buying an additional 3,307 shares during the last quarter. Centerpoint Advisors LLC bought a new position in Ivanhoe Electric during the 4th quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Ivanhoe Electric by 112.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company’s stock valued at $95,000 after buying an additional 4,967 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Company Profile

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.