Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) fell 10.1% during trading on Monday . The stock traded as low as $5.66 and last traded at $5.58. 636,023 shares were traded during mid-day trading, a decline of 8% from the average session volume of 694,255 shares. The stock had previously closed at $6.21.
Analyst Ratings Changes
IE has been the topic of several research reports. JPMorgan Chase & Co. reduced their target price on Ivanhoe Electric from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group reduced their price objective on Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Scotiabank lowered 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.
Read Our Latest Analysis on IE
Ivanhoe Electric Stock Down 1.0 %
The company's 50 day simple moving average is $6.63. 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 company has a market capitalization of $698.05 million, a PE ratio of -3.64 and a beta of 0.74.
Insiders Place Their Bets
In other news, CFO Jordan Neeser acquired 20,000 shares of Ivanhoe Electric stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $5.86 per share, for a total transaction of $117,200.00. Following the purchase, the chief financial officer now directly owns 40,000 shares in the company, valued at $234,400. The trade was a 100.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 10.50% of the company's stock.
Institutional Investors Weigh In On Ivanhoe Electric
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC purchased a new stake in shares of Ivanhoe Electric during the third quarter valued at $32,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ivanhoe Electric during the 4th quarter valued at about $80,000. BNP Paribas Financial Markets purchased a new stake in Ivanhoe Electric during the 4th quarter valued at about $89,000. Eagle Global Advisors LLC acquired a new position in shares of Ivanhoe Electric in the fourth quarter valued at about $100,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Ivanhoe Electric in the fourth quarter worth about $103,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
About Ivanhoe Electric
(
Get Free Report)
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.
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