Ivanhoe Electric (NYSEAMERICAN:IE) Stock Rating Upgraded by Eight Capital

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

Separately, Scotiabank dropped their target price on Ivanhoe Electric from $14.50 to $14.00 and set a sector outperform rating for the company in a research report on Monday, August 19th.

Ivanhoe Electric Trading Down 1.2 %

NYSEAMERICAN:IE opened at $8.71 on Thursday. Ivanhoe Electric has a 1-year low of $6.31 and a 1-year high of $12.98. The company has a current ratio of 3.66, a quick ratio of 3.52 and a debt-to-equity ratio of 0.22. 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 announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The business had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. Equities research analysts predict that Ivanhoe Electric will post -1.39 EPS for the current year.

Institutional Trading of Ivanhoe Electric

Several institutional investors and hedge funds have recently made changes to their positions in the company. MQS Management LLC purchased a new position in Ivanhoe Electric during the 1st quarter worth $100,000. Principal Financial Group Inc. purchased a new position in shares of Ivanhoe Electric during the second quarter worth about $106,000. ProShare Advisors LLC increased its position in Ivanhoe Electric by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after acquiring an additional 1,043 shares during the period. Capstone Investment Advisors LLC purchased a new stake in Ivanhoe Electric during the 4th quarter valued at approximately $151,000. Finally, Sei Investments Co. lifted its position in 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 acquiring an additional 4,610 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.