Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 9.6% – What’s Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s stock price was down 9.6% during mid-day trading on Tuesday . The company traded as low as $5.75 and last traded at $5.76. Approximately 257,943 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 677,442 shares. The stock had previously closed at $6.37.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Scotiabank dropped 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 report on Monday, January 6th.

Ivanhoe Electric Price Performance

The company has a market cap of $708.32 million, a P/E ratio of -3.69 and a beta of 0.74. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Ivanhoe Electric by 34.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 211,513 shares of the company’s stock worth $1,597,000 after purchasing an additional 54,771 shares during the period. ProShare Advisors LLC raised its stake in Ivanhoe Electric by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 23,541 shares of the company’s stock worth $178,000 after buying an additional 7,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ivanhoe Electric by 78.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company’s stock valued at $6,995,000 after acquiring an additional 402,879 shares during the last quarter. Deutsche Bank AG grew its holdings in Ivanhoe Electric by 49.7% during the 4th quarter. Deutsche Bank AG now owns 77,971 shares of the company’s stock worth $589,000 after acquiring an additional 25,873 shares during the period. Finally, Eagle Global Advisors LLC bought a new position in shares of Ivanhoe Electric in the 4th quarter worth about $100,000. 79.05% of the stock is owned by institutional investors.

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.