Ivanhoe Electric (NYSEAMERICAN:IE) Shares Down 7.5%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s stock price traded down 7.5% during trading on Monday . The company traded as low as $7.13 and last traded at $7.17. 652,491 shares traded hands during trading, a decline of 0% from the average session volume of 653,296 shares. The stock had previously closed at $7.75.

Analyst Ratings Changes

Separately, Scotiabank lowered their price objective on shares of Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a research note on Monday, August 19th.

Ivanhoe Electric Stock Down 5.8 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.52 and a current ratio of 3.66. The firm has a market cap of $878.92 million, a price-to-earnings ratio of -6.77 and a beta of 0.81.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data 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). The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. Equities analysts forecast that Ivanhoe Electric Inc. will post -1.32 EPS for the current year.

Hedge Funds Weigh In On Ivanhoe Electric

Hedge funds have recently made changes to their positions in the company. Mak Capital One LLC increased its stake in Ivanhoe Electric by 30.2% in 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 period. Tidal Investments LLC raised its stake in Ivanhoe Electric by 432.6% during the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after acquiring an additional 244,341 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in Ivanhoe Electric by 4.1% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company’s stock valued at $13,722,000 after acquiring an additional 53,045 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ivanhoe Electric by 51.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock valued at $2,746,000 after purchasing an additional 99,106 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Ivanhoe Electric by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock valued at $6,689,000 after purchasing an additional 42,843 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

About Ivanhoe Electric

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.