Ivanhoe Electric (NYSEAMERICAN:IE) Reaches New 12-Month Low – What’s Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares reached a new 52-week low on Thursday . The stock traded as low as $5.33 and last traded at $5.46, with a volume of 67381 shares traded. The stock had previously closed at $5.75.

Analyst Ratings Changes

Several equities research analysts have issued reports on IE shares. Jefferies Financial Group lowered their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Scotiabank cut their price target on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a research note on Monday, January 6th.

Ivanhoe Electric Trading Down 9.2 %

The company has a 50 day moving average of $6.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market cap of $630.42 million, a P/E ratio of -3.28 and a beta of 0.74.

Insider Activity

In related news, VP Graham Richard Thomas Boyd acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $5.83 per share, with a total value of $29,150.00. Following the purchase, the vice president now directly owns 11,510 shares in the company, valued at approximately $67,103.30. This trade represents a 76.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jordan Neeser acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $5.86 per share, with a total value of $117,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $234,400. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 75,000 shares of company stock valued at $434,350. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in Ivanhoe Electric by 6.5% in the fourth quarter. California State Teachers Retirement System now owns 73,530 shares of the company’s stock worth $555,000 after purchasing an additional 4,462 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ivanhoe Electric by 34.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 211,513 shares of the company’s stock valued at $1,597,000 after buying an additional 54,771 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Ivanhoe Electric by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 23,541 shares of the company’s stock worth $178,000 after acquiring an additional 7,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ivanhoe Electric by 78.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company’s stock valued at $6,995,000 after acquiring an additional 402,879 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Ivanhoe Electric by 49.7% during the fourth quarter. Deutsche Bank AG now owns 77,971 shares of the company’s stock worth $589,000 after purchasing an additional 25,873 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.