Eight Capital Upgrades Ivanhoe Electric (NYSEAMERICAN:IE) to Strong-Buy

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) was upgraded by analysts at Eight Capital to a "strong-buy" rating in a note issued to investors on Thursday, Zacks.com reports.

Separately, Scotiabank lowered their price target on Ivanhoe Electric from $14.50 to $14.00 and set a "sector outperform" rating on the stock in a research report on Monday, August 19th.

Ivanhoe Electric Trading Down 1.2 %

Shares of NYSEAMERICAN IE traded down $0.11 during mid-day trading on Thursday, hitting $8.71. The company had a trading volume of 508,949 shares, compared to its average volume of 693,480. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -8.14 and a beta of 0.81. Ivanhoe Electric has a 12 month low of $6.31 and a 12 month high of $12.98. The company has a current ratio of 3.66, a quick ratio of 3.52 and a debt-to-equity ratio of 0.22.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) 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 business had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. Equities research analysts expect that Ivanhoe Electric will post -1.39 EPS for the current year.

Institutional Trading of Ivanhoe Electric

Several hedge funds and other institutional investors have recently modified their holdings of IE. Capstone Investment Advisors LLC acquired a new stake in shares of Ivanhoe Electric in the fourth quarter worth $151,000. Mak Capital One LLC boosted its position in Ivanhoe Electric by 30.2% during the fourth quarter. Mak Capital One LLC now owns 1,289,103 shares of the company's stock valued at $12,994,000 after purchasing an additional 299,018 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its position in Ivanhoe Electric by 4.1% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company's stock valued at $13,722,000 after purchasing an additional 53,045 shares during the last quarter. GeoSphere Capital Management LLC acquired a new stake in Ivanhoe Electric during the fourth quarter valued at $504,000. Finally, LexAurum Advisors LLC boosted its position in Ivanhoe Electric by 379.8% during the first quarter. LexAurum Advisors LLC now owns 51,100 shares of the company's stock valued at $501,000 after purchasing an additional 40,450 shares during the last quarter. Institutional investors and hedge funds 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.