Ivanhoe Electric (NYSEAMERICAN:IE) Shares Up 8.8%

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Free Report) shot up 8.8% during trading on Wednesday . The company traded as high as $8.45 and last traded at $8.45. 88,519 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 493,343 shares. The stock had previously closed at $7.77.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price objective on shares of Ivanhoe Electric from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, November 20th.

Check Out Our Latest Analysis on Ivanhoe Electric

Ivanhoe Electric Stock Up 7.7 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.32 and a current ratio of 5.45.

Ivanhoe Electric (NYSEAMERICAN:IEGet Free Report) last issued its earnings results on Monday, February 26th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.09). Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. The firm had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $2.00 million. Equities analysts predict that Ivanhoe Electric Inc. will post -1.15 earnings per share for the current year.

Insider Buying and Selling at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd acquired 4,000 shares of the stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $7.44 per share, with a total value of $29,760.00. Following the completion of the transaction, the vice president now owns 6,510 shares of the company’s stock, valued at approximately $48,434.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently bought and sold shares of the business. UBS Group AG purchased a new position in shares of Ivanhoe Electric during the 2nd quarter valued at about $26,000. Millennium Management LLC bought a new position in shares of Ivanhoe Electric during the 2nd quarter valued at approximately $4,094,000. Citadel Advisors LLC bought a new position in shares of Ivanhoe Electric during the 2nd quarter valued at approximately $117,000. Jane Street Group LLC bought a new position in shares of Ivanhoe Electric during the 2nd quarter valued at approximately $162,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $161,000. 54.86% of the stock is currently owned by institutional investors.

Ivanhoe Electric Company Profile

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