Ivanhoe Electric (NYSEAMERICAN:IE) Shares Down 8.6%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares fell 8.6% on Monday . The stock traded as low as $9.59 and last traded at $9.69. 127,387 shares changed hands during trading, a decline of 75% from the average session volume of 499,583 shares. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

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

Ivanhoe Electric Price Performance

The company has a current ratio of 5.45, a quick ratio of 5.32 and a debt-to-equity ratio of 0.17.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). The firm had revenue of $1.67 million during the quarter, compared to analyst estimates of $2.00 million. Ivanhoe Electric had a negative net margin of 3,259.77% and a negative return on equity of 46.23%. As a group, equities research analysts expect that Ivanhoe Electric Inc. will post -1.15 EPS for the current fiscal year.

Insider Buying and Selling at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd bought 4,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of $7.44 per share, with a total value of $29,760.00. Following the completion of the acquisition, the vice president now owns 6,510 shares in the company, valued at approximately $48,434.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its stake in shares of Ivanhoe Electric by 39.4% during the 3rd quarter. Avior Wealth Management LLC now owns 5,726 shares of the company’s stock worth $68,000 after purchasing an additional 1,617 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Ivanhoe Electric by 118.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock worth $73,000 after purchasing an additional 3,307 shares in the last quarter. Barclays PLC increased its stake in shares of Ivanhoe Electric by 21.3% during the 3rd quarter. Barclays PLC now owns 23,643 shares of the company’s stock worth $281,000 after purchasing an additional 4,154 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ivanhoe Electric by 48.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,779 shares of the company’s stock worth $176,000 after purchasing an additional 4,836 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Ivanhoe Electric by 112.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company’s stock worth $95,000 after purchasing an additional 4,967 shares in the last quarter. 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.