Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Down 5% – Time to Sell?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was down 5% during mid-day trading on Monday . The stock traded as low as $5.08 and last traded at $5.09. Approximately 476,620 shares traded hands during trading, a decline of 35% from the average daily volume of 732,467 shares. The stock had previously closed at $5.36.

Analysts Set New Price Targets

Several research analysts recently weighed in on IE shares. JPMorgan Chase & Co. dropped their target price on Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Scotiabank lowered their target price on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a research note on Monday, January 6th. Raymond James set a $15.00 target price on shares of Ivanhoe Electric and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, Jefferies Financial Group lowered their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.88.

Ivanhoe Electric Price Performance

The company has a 50 day moving average of $5.95 and a 200 day moving average of $7.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market capitalization of $782.59 million, a price-to-earnings ratio of -4.08 and a beta of 0.74.

Insider Buying and Selling at Ivanhoe Electric

In other Ivanhoe Electric news, CFO Jordan Neeser bought 20,000 shares of Ivanhoe Electric stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $5.86 per share, with a total value of $117,200.00. Following the completion of the acquisition, the chief financial officer now owns 40,000 shares of the company’s stock, valued at approximately $234,400. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Taylor Melvin acquired 50,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the completion of the transaction, the chief executive officer now owns 730,753 shares in the company, valued at $4,209,137.28. The trade was a 7.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 75,000 shares of company stock worth $434,350 over the last three months. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Ivanhoe Electric

Several hedge funds have recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ivanhoe Electric during the fourth quarter valued at approximately $80,000. GAMMA Investing LLC grew its stake in Ivanhoe Electric by 456.9% during the 1st quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock valued at $65,000 after purchasing an additional 9,119 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Ivanhoe Electric during the 4th quarter worth approximately $89,000. Eagle Global Advisors LLC acquired a new stake in Ivanhoe Electric in the fourth quarter valued at $100,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Ivanhoe Electric during the fourth quarter worth about $103,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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.