Ivanhoe Electric (NYSEAMERICAN:IE) Trading 7% Higher – Time to Buy?

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) were 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.

Analyst Upgrades and Downgrades

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

Ivanhoe Electric Trading Up 0.1 %

The stock has a market capitalization of $962.48 million, a PE ratio of -5.03 and a beta of 0.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Hedge Funds Weigh In On Ivanhoe Electric

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