Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 4.3%

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) were up 4.3% during mid-day trading on Tuesday . The stock traded as high as $9.91 and last traded at $9.91. Approximately 141,081 shares were traded during trading, a decline of 77% from the average daily volume of 620,584 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price objective on shares of Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating on the stock in a report on Tuesday, April 9th.

Ivanhoe Electric Trading Up 4.8 %

The company has a current ratio of 4.89, a quick ratio of 4.76 and a debt-to-equity ratio of 0.19.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.80. The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. Analysts expect that Ivanhoe Electric Inc. will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Mark Andrew Stuart Gibson sold 28,344 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $12.45, for a total transaction of $352,882.80. Following the completion of the sale, the chief operating officer now owns 301,928 shares of the company’s stock, valued at $3,759,003.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Institutional Trading of Ivanhoe Electric

Large investors have recently bought and sold shares of the business. Centerpoint Advisors LLC purchased a new stake in Ivanhoe Electric during the 4th quarter valued at about $89,000. Tower Research Capital LLC TRC grew its stake in Ivanhoe Electric by 112.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company’s stock valued at $95,000 after acquiring an additional 4,967 shares in the last quarter. MQS Management LLC purchased a new stake in Ivanhoe Electric during the 1st quarter valued at about $100,000. LexAurum Advisors LLC purchased a new stake in Ivanhoe Electric during the 4th quarter valued at about $107,000. Finally, ProShare Advisors LLC grew its stake in Ivanhoe Electric by 10.0% during the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after acquiring an additional 1,043 shares in 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.