Ivanhoe Electric (NYSEAMERICAN:IE) Reaches New 12-Month Low – Should You Sell?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $5.50 and last traded at $5.59, with a volume of 17548 shares changing hands. The stock had previously closed at $5.71.

Analyst Upgrades and Downgrades

IE has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Scotiabank cut their price objective on shares of 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. Finally, Jefferies Financial Group dropped their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Ivanhoe Electric Trading Down 3.9 %

The stock has a market capitalization of $663.03 million, a price-to-earnings ratio of -3.45 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 Trading of Ivanhoe Electric

Several institutional investors have recently made changes to their positions in IE. The Manufacturers Life Insurance Company lifted its position in Ivanhoe Electric by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company’s stock worth $1,086,000 after acquiring an additional 1,165 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ivanhoe Electric by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after purchasing an additional 1,643 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Ivanhoe Electric by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 51,922 shares of the company’s stock valued at $392,000 after purchasing an additional 2,948 shares during the period. Avior Wealth Management LLC acquired a new stake in Ivanhoe Electric during the 3rd quarter valued at $32,000. Finally, Creative Planning increased its stake in Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after buying an additional 4,644 shares during the period. 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.