Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 3.4%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was down 3.4% on Friday . The stock traded as low as $7.30 and last traded at $7.31. Approximately 151,610 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 636,216 shares. The stock had previously closed at $7.57.

Ivanhoe Electric Stock Down 4.4 %

The company has a quick ratio of 4.76, a current ratio of 4.89 and a debt-to-equity ratio of 0.19. The firm has a market cap of $871.04 million, a P/E ratio of -6.77 and a beta of 0.85.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Ivanhoe Electric had a negative return on equity of 33.64% and a negative net margin of 3,007.59%. The firm had revenue of $0.54 million for the quarter, compared to analyst estimates of $1.00 million. Analysts forecast that Ivanhoe Electric Inc. will post -1.18 earnings per share for the current year.

Insider Activity

In other Ivanhoe Electric news, insider Mark Andrew Stuart Gibson sold 25,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $12.16, for a total value of $304,000.00. Following the transaction, the insider now directly owns 260,272 shares of the company’s stock, valued at approximately $3,164,907.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Trading of Ivanhoe Electric

Several hedge funds and other institutional investors have recently bought and sold shares of IE. MQS Management LLC acquired a new position in Ivanhoe Electric in the 1st quarter valued at $100,000. Principal Financial Group Inc. bought a new position in shares of Ivanhoe Electric in the second quarter worth $106,000. ProShare Advisors LLC raised its stake in Ivanhoe Electric by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after purchasing an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Ivanhoe Electric during the fourth quarter worth about $151,000. Finally, Avior Wealth Management LLC grew its stake in Ivanhoe Electric by 164.7% during the fourth quarter. Avior Wealth Management LLC now owns 15,158 shares of the company’s stock worth $153,000 after buying an additional 9,432 shares in the last quarter. Institutional investors and hedge funds 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.