Ivanhoe Electric (NYSEAMERICAN:IE) Shares Up 7.7% – Should You Buy?

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) were up 7.7% on Tuesday . The company traded as high as $7.87 and last traded at $7.73. Approximately 278,549 shares traded hands during trading, a decline of 57% from the average daily volume of 654,268 shares. The stock had previously closed at $7.18.

Analyst Upgrades and Downgrades

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

Ivanhoe Electric Price Performance

The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock has a market cap of $939.59 million, a P/E ratio of -4.91 and a beta of 0.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after purchasing an additional 1,558,467 shares during the last quarter. Mak Capital One LLC increased its stake in Ivanhoe Electric by 21.6% during the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock worth $16,705,000 after acquiring an additional 316,903 shares during the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in shares of Ivanhoe Electric by 13.9% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after purchasing an additional 199,400 shares during the period. Raffles Associates LP boosted its stake in Ivanhoe Electric by 70.0% during the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after buying an additional 457,479 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ivanhoe Electric by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock valued at $5,946,000 after acquiring an additional 8,023 shares during the last quarter. Hedge funds and other 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.