Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 5.3% - What's Next?

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) traded up 5.3% during trading on Wednesday . The stock traded as high as $9.73 and last traded at $9.73. 53,998 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 672,782 shares. The stock had previously closed at $9.24.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Eight Capital raised Ivanhoe Electric to a "strong-buy" rating in a research report on Thursday, September 26th. Scotiabank reduced their target price on Ivanhoe Electric from $14.50 to $14.00 and set a "sector outperform" rating for the company in a report on Monday, August 19th.

Ivanhoe Electric Stock Up 7.1 %

The company has a current ratio of 3.66, a quick ratio of 3.52 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.19 billion, a P/E ratio of -9.43 and a beta of 0.82.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. The firm had revenue of $0.54 million during the quarter, compared to the consensus estimate of $1.00 million. Sell-side analysts expect that Ivanhoe Electric Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Ivanhoe Electric

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MQS Management LLC bought a new position in shares of Ivanhoe Electric in the first quarter worth $100,000. Principal Financial Group Inc. acquired a new position in Ivanhoe Electric during the 2nd quarter worth about $106,000. ProShare Advisors LLC boosted its holdings in Ivanhoe Electric by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company's stock valued at $113,000 after acquiring an additional 1,043 shares during the last quarter. Creative Planning increased its position in shares of Ivanhoe Electric by 33.9% during the third quarter. Creative Planning now owns 18,347 shares of the company's stock worth $155,000 after buying an additional 4,644 shares during the period. Finally, Capstone Investment Advisors LLC grew its holdings in Ivanhoe Electric by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company's stock worth $160,000 after acquiring an additional 1,350 shares during the period. Institutional investors own 79.05% of the company's stock.

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.