Ivanhoe Electric (NYSEAMERICAN:IE) Shares Up 7% – What’s Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s stock price was up 7% during trading on Thursday . The stock traded as high as $8.18 and last traded at $8.08. Approximately 90,135 shares were traded during trading, a decline of 86% from the average daily volume of 649,134 shares. The stock had previously closed at $7.55.

Wall Street Analyst Weigh In

Separately, Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th.

Ivanhoe Electric Trading Up 7.4 %

The firm has a market cap of $976.93 million, a PE ratio of -5.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Institutional Trading of Ivanhoe Electric

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in Ivanhoe Electric by 358.9% in the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after buying an additional 106,288 shares during the last quarter. State Street Corp raised its position in shares of Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after purchasing an additional 199,400 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Ivanhoe Electric during the third quarter valued at $162,000. Finally, SG Americas Securities LLC purchased a new position in Ivanhoe Electric in the 3rd quarter worth about $431,000. 79.05% of the stock is currently owned by institutional investors.

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.