Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 5% – Time to Sell?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) fell 5% during trading on Tuesday . The stock traded as low as $6.47 and last traded at $6.52. 65,982 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 499,081 shares. The stock had previously closed at $6.86.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IE. Jefferies Financial Group cut their price objective on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Scotiabank decreased their target price on 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.

Ivanhoe Electric Stock Down 5.0 %

The firm has a market capitalization of $785.40 million, a PE ratio of -4.10 and a beta of 0.66. 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 Investors Weigh In On Ivanhoe Electric

Large investors have recently made changes to their positions in the company. State Street Corp increased its position in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after buying an additional 1,558,467 shares during the period. Raffles Associates LP grew its position in Ivanhoe Electric by 70.0% during the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after buying an additional 457,479 shares in the last quarter. Mak Capital One LLC increased its stake in Ivanhoe Electric by 21.6% during the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after acquiring an additional 316,903 shares during the period. Goehring & Rozencwajg Associates LLC raised its holdings in Ivanhoe Electric by 13.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after acquiring an additional 199,400 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Ivanhoe Electric in the 3rd quarter worth approximately $1,122,000. 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.