Ivanhoe Electric (NYSEAMERICAN:IE) Trading Down 14.1% – What’s Next?

by · The Markets Daily

Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Free Report)’s stock price was down 14.1% during trading on Friday . The stock traded as low as $17.20 and last traded at $17.1030. Approximately 1,258,783 shares were traded during trading, a decline of 35% from the average daily volume of 1,932,746 shares. The stock had previously closed at $19.92.

Wall Street Analyst Weigh In

IE has been the subject of several recent research reports. Raymond James Financial lifted their target price on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.13.

Check Out Our Latest Stock Report on IE

Ivanhoe Electric Stock Down 16.1%

The company’s 50 day moving average price is $16.05 and its two-hundred day moving average price is $13.09. The stock has a market cap of $2.42 billion, a P/E ratio of -41.27 and a beta of 0.98. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling at Ivanhoe Electric

In other news, insider Quentin Markin sold 90,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $16.34, for a total value of $1,470,600.00. Following the completion of the sale, the insider owned 728,493 shares in the company, valued at approximately $11,903,575.62. The trade was a 11.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Ivanhoe Electric in the fourth quarter worth approximately $56,000. Tower Research Capital LLC TRC lifted its position in shares of Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after purchasing an additional 3,713 shares in the last quarter. IFP Advisors Inc increased its stake in Ivanhoe Electric by 138.1% during the 3rd quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock worth $83,000 after buying an additional 3,717 shares during the period. Comerica Bank grew its stake in Ivanhoe Electric by 352.3% during the 3rd quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after purchasing an additional 5,450 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after buying an additional 2,449 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

About Ivanhoe Electric

(Get Free Report)

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.

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