Ivanhoe Electric (NYSEAMERICAN:IE) Upgraded by Eight Capital to Strong-Buy

Eight Capital upgraded shares of Ivanhoe Electric (NYSEAMERICAN:IE) to a strong-buy rating in a report published on Thursday morning, Zacks.com reports.

Separately, Scotiabank cut their price objective on Ivanhoe Electric from $14.50 to $14.00 and set a sector outperform rating on the stock in a report on Monday, August 19th.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN:IE opened at $8.71 on Thursday. The company has a quick ratio of 3.52, a current ratio of 3.66 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.05 billion, a P/E ratio of -8.14 and a beta of 0.81. Ivanhoe Electric has a 52 week low of $6.31 and a 52 week high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. Equities research analysts predict that Ivanhoe Electric will post -1.39 EPS for the current year.

Institutional Trading of Ivanhoe Electric

Several institutional investors have recently modified their holdings of IE. ProShare Advisors LLC boosted its stake in shares of Ivanhoe Electric by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after acquiring an additional 1,043 shares during the last quarter. Capstone Investment Advisors LLC raised its position in shares of Ivanhoe Electric by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock valued at $160,000 after buying an additional 1,350 shares during the last quarter. Old West Investment Management LLC raised its holdings in Ivanhoe Electric by 2.2% in the 2nd quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock valued at $1,495,000 after acquiring an additional 3,369 shares during the last quarter. Sei Investments Co. lifted its stake in Ivanhoe Electric by 11.5% in the 1st quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock worth $440,000 after purchasing an additional 4,610 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Ivanhoe Electric during the 1st quarter worth approximately $100,000. 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.