Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 4.3%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) rose 4.3% during trading on Tuesday . The company traded as high as $9.91 and last traded at $9.91. Approximately 141,081 shares traded hands during trading, a decline of 77% from the average daily volume of 620,584 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

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 report on Tuesday, April 9th.

Ivanhoe Electric Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 4.89 and a quick ratio of 4.76.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share 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 analysts’ expectations of $1.00 million. Ivanhoe Electric had a negative return on equity of 33.64% and a negative net margin of 3,007.59%. On average, analysts predict that Ivanhoe Electric Inc. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Ivanhoe Electric

In other news, COO Mark Andrew Stuart Gibson sold 28,344 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was 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 owns 301,928 shares of the company’s stock, valued at approximately $3,759,003.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors have recently modified their holdings of the business. Centerpoint Advisors LLC bought a new stake in Ivanhoe Electric during the 4th quarter worth $89,000. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 4,967 shares during the last quarter. MQS Management LLC bought a new stake in shares of Ivanhoe Electric in the 1st quarter valued at about $100,000. LexAurum Advisors LLC bought a new stake in shares of Ivanhoe Electric in the 4th quarter valued at about $107,000. Finally, ProShare Advisors LLC grew its position in shares of Ivanhoe Electric by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after buying an additional 1,043 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.