Ivanhoe Electric (NYSEAMERICAN:IE) Trading Up 5.8%

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Free Report) traded up 5.8% during trading on Wednesday . The company traded as high as $10.46 and last traded at $10.36. 240,073 shares traded hands during trading, a decline of 50% from the average session volume of 478,486 shares. The stock had previously closed at $9.79.

Ivanhoe Electric Stock Performance

The company has a market cap of $1.25 billion, a P/E ratio of -9.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.45 and a quick ratio of 5.32.

Ivanhoe Electric (NYSEAMERICAN:IEGet Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). The company had revenue of $1.67 million during the quarter, compared to analyst estimates of $2.00 million. Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. Sell-side analysts anticipate that Ivanhoe Electric Inc. will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Graham Richard Thomas Boyd acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of $7.44 per share, with a total value of $29,760.00. Following the completion of the purchase, the vice president now directly owns 6,510 shares in the company, valued at $48,434.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Ivanhoe Electric

Several institutional investors have recently added to or reduced their stakes in IE. BlackRock Inc. increased its holdings in shares of Ivanhoe Electric by 111.7% during the second quarter. BlackRock Inc. now owns 9,046,218 shares of the company’s stock valued at $117,963,000 after acquiring an additional 4,772,283 shares in the last quarter. FMR LLC increased its holdings in shares of Ivanhoe Electric by 27.4% during the third quarter. FMR LLC now owns 10,144,638 shares of the company’s stock valued at $120,721,000 after acquiring an additional 2,181,192 shares in the last quarter. Pentwater Capital Management LP increased its holdings in shares of Ivanhoe Electric by 500.6% during the third quarter. Pentwater Capital Management LP now owns 1,751,666 shares of the company’s stock valued at $20,845,000 after acquiring an additional 1,460,000 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Ivanhoe Electric during the third quarter valued at approximately $8,925,000. Finally, Mak Capital One LLC increased its holdings in shares of Ivanhoe Electric by 635.0% during the second quarter. Mak Capital One LLC now owns 704,300 shares of the company’s stock valued at $9,184,000 after acquiring an additional 608,482 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

About Ivanhoe Electric

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