Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 5% – What’s Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares traded down 5% during mid-day trading on Tuesday . The stock traded as low as $6.47 and last traded at $6.52. 65,982 shares were traded during mid-day trading, a decline of 87% from the average session volume of 499,081 shares. The stock had previously closed at $6.86.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. cut their target price on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Scotiabank cut their target price on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research report on Monday, January 6th.

Ivanhoe Electric Trading Up 1.0 %

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock has a market cap of $829.97 million, a price-to-earnings ratio of -4.33 and a beta of 0.78.

Institutional Trading of Ivanhoe Electric

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its holdings in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares in the last quarter. Mak Capital One LLC boosted its holdings in Ivanhoe Electric by 21.6% in the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock worth $16,705,000 after acquiring an additional 316,903 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Ivanhoe Electric by 13.9% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after purchasing an additional 199,400 shares in the last quarter. Raffles Associates LP lifted its holdings in shares of Ivanhoe Electric by 70.0% in the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock valued at $9,400,000 after purchasing an additional 457,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ivanhoe Electric by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock valued at $5,946,000 after acquiring an additional 8,023 shares during the last quarter. 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.