Ivanhoe Electric (NYSEAMERICAN:IE) Hits New 1-Year Low – Should You Sell?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares hit a new 52-week low on Tuesday . The company traded as low as $6.01 and last traded at $6.35, with a volume of 592126 shares changing hands. The stock had previously closed at $6.38.

Wall Street Analyst Weigh In

IE has been the topic of a number of research reports. Scotiabank lowered their price objective on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Jefferies Financial Group cut 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.

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 $728.78 million, a price-to-earnings ratio of -3.81 and a beta of 0.78.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its earnings results on Friday, November 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Ivanhoe Electric had a negative net margin of 5,947.19% and a negative return on equity of 59.78%. The company had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.00 million. On average, equities analysts predict that Ivanhoe Electric Inc. will post -1.47 earnings per share for the current year.

Institutional Trading of Ivanhoe Electric

A number of hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC acquired a new position in Ivanhoe Electric during the third quarter worth $32,000. nVerses Capital LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter worth about $33,000. Creative Planning increased its holdings in shares of Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after acquiring an additional 4,644 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $162,000. Finally, Aigen Investment Management LP acquired a new stake in Ivanhoe Electric in the 3rd quarter worth approximately $174,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.