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

Ivanhoe Electric (NYSEAMERICAN:IE) was upgraded by research analysts at Eight Capital to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

Separately, Scotiabank cut their price objective on shares of 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 Stock Performance

Shares of NYSEAMERICAN IE opened at $8.71 on Thursday. Ivanhoe Electric has a twelve month low of $6.31 and a twelve month high of $12.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.52 and a current ratio of 3.66. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.14 and a beta of 0.81.

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

Institutional Investors Weigh In On Ivanhoe Electric

Several institutional investors and hedge funds have recently modified their holdings of the stock. MQS Management LLC bought a new position in shares of Ivanhoe Electric in the 1st quarter valued at about $100,000. Principal Financial Group Inc. purchased a new stake in shares of Ivanhoe Electric in the second quarter valued at $106,000. ProShare Advisors LLC lifted its holdings in shares of Ivanhoe Electric by 10.0% in the 1st 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 purchased a new position in shares of Ivanhoe Electric during the 4th quarter worth about $151,000. Finally, Sei Investments Co. boosted its stake in shares of Ivanhoe Electric by 11.5% during 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 during the period. Institutional investors own 79.05% of the company’s stock.

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.