Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 5% – What’s Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s stock price was down 5% on Tuesday . The company traded as low as $6.47 and last traded at $6.52. Approximately 65,982 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 499,081 shares. The stock had previously closed at $6.86.

Analysts Set New Price Targets

A number of analysts recently commented on IE shares. Scotiabank lowered their price objective on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday. Jefferies Financial Group lowered their price objective on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th.

Ivanhoe Electric Price Performance

The stock has a market cap of $829.97 million, a PE ratio of -4.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Ivanhoe Electric by 94.5% during the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after acquiring an additional 1,558,467 shares during the last quarter. Raffles Associates LP increased its holdings in shares of Ivanhoe Electric by 70.0% during the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after acquiring an additional 457,479 shares during the last quarter. Mak Capital One LLC increased its holdings in shares of Ivanhoe Electric by 21.6% during the 2nd 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 boosted its stake in Ivanhoe Electric by 13.9% in the 2nd 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 period. Finally, PDT Partners LLC bought a new stake in Ivanhoe Electric in the 3rd quarter valued at $1,122,000. 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.