Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 5.6%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares fell 5.6% on Monday . The company traded as low as $9.53 and last traded at $9.60. 57,068 shares were traded during mid-day trading, a decline of 91% from the average session volume of 606,189 shares. The stock had previously closed at $10.17.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their price objective on Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating for the company in a research report on Tuesday, April 9th.

Ivanhoe Electric Stock Performance

The company has a current ratio of 4.89, a quick ratio of 4.76 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.13 billion, a PE ratio of -8.88 and a beta of 0.86.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.80. The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. On average, analysts anticipate that Ivanhoe Electric Inc. will post -1.18 earnings per share for the current year.

Insider Activity at Ivanhoe Electric

In related news, COO Mark Andrew Stuart Gibson sold 28,344 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $12.45, for a total transaction of $352,882.80. Following the completion of the transaction, the chief operating officer now directly owns 301,928 shares in the company, valued at approximately $3,759,003.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds have recently made changes to their positions in IE. Mak Capital One LLC increased its position in shares of Ivanhoe Electric by 30.2% during the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock worth $12,994,000 after purchasing an additional 299,018 shares in the last quarter. Tidal Investments LLC increased its position in shares of Ivanhoe Electric by 432.6% during the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock worth $2,948,000 after purchasing an additional 244,341 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ivanhoe Electric by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 585,024 shares of the company’s stock worth $5,897,000 after purchasing an additional 120,243 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Ivanhoe Electric by 51.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock worth $2,746,000 after purchasing an additional 99,106 shares in the last quarter. Finally, Anson Funds Management LP acquired a new stake in shares of Ivanhoe Electric during the 1st quarter worth about $598,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.