Ivanhoe Electric (NYSEAMERICAN:IE) Trading Up 7% – Time to Buy?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE)’s share price rose 7% during mid-day trading on Thursday . The company traded as high as $8.18 and last traded at $8.08. Approximately 90,135 shares were traded during trading, a decline of 86% from the average daily volume of 649,134 shares. The stock had previously closed at $7.55.

Analyst Upgrades and Downgrades

Separately, Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Price Performance

The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $962.48 million, a price-to-earnings ratio of -5.03 and a beta of 0.66.

Institutional Trading of Ivanhoe Electric

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Ivanhoe Electric by 94.5% during the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after purchasing an additional 1,558,467 shares during the last quarter. Raffles Associates LP raised its stake in shares of Ivanhoe Electric by 70.0% in the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after purchasing an additional 457,479 shares during the last quarter. Mak Capital One LLC lifted its holdings in shares of Ivanhoe Electric by 21.6% during the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock worth $16,705,000 after purchasing an additional 316,903 shares during the period. Goehring & Rozencwajg Associates LLC boosted its position in Ivanhoe Electric by 13.9% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after buying an additional 199,400 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Ivanhoe Electric in the 3rd quarter worth approximately $1,122,000. 79.05% of the stock is currently owned by 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.