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Ivanhoe Electric Inc. (AMEX: IE) Is Down -6.29% In A Month. Could There Be Any Hope That It Will Rise Soon?

During the last session, Ivanhoe Electric Inc. (AMEX:IE)’s traded shares were 1.01 million. At the end of the trading day, the stock’s price was $11.03, reflecting an intraday loss of -4.75% or -$0.55. The 52-week high for the IE share is $16.55, that puts it down -50.05 from that peak though still a striking 36.45% gain since the share price plummeted to a 52-week low of $7.01. The company’s market capitalization is $1.12B, and the average intraday trading volume over the past 10 days was 0.78 million shares, and the average trade volume was 504.55K shares over the past three months.

Ivanhoe Electric Inc. (IE) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.80. IE has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.26.

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Ivanhoe Electric Inc. (AMEX:IE) trade information

Ivanhoe Electric Inc. (IE) registered a -4.75% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.75% in intraday trading to $11.03 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -18.96%, and it has moved by -6.29% in 30 days. The short interest in Ivanhoe Electric Inc. (AMEX:IE) is 1.15 million shares and it means that shorts have 3.58 day(s) to cover.

The consensus price target of analysts on Wall Street is $17.38, which implies an increase of 36.54% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $15.50 and $19.00 respectively. As a result, IE is trading at a discount of -72.26% off the target high and -40.53% off the low.

Ivanhoe Electric Inc. (IE) estimates and forecasts

Statistics show that Ivanhoe Electric Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Ivanhoe Electric Inc. (IE) shares have gone up 7.71% during the last six months, with a year-to-date growth rate more than the industry average at 56.54% against 19.20. In the rating firms’ projections, revenue will decrease -46.00% compared to the previous financial year.

While earnings are projected to return -198.70% in 2023.

IE Dividends

Ivanhoe Electric Inc. is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Ivanhoe Electric Inc. (AMEX:IE)’s Major holders

Ivanhoe Electric Inc. insiders own 40.24% of total outstanding shares while institutional holders control 38.57%, with the float percentage being 64.55%. FMR, LLC is the largest shareholder of the company, while 108 institutions own stock in it. As of Mar 30, 2023, the company held over 8.61 million shares (or 9.26% of all shares), a total value of $104.59 million in shares.

The next largest institutional holding, with 7.43 million shares, is of Orion Resource Partners (usa) Lp’s that is approximately 7.99% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $90.24 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ivanhoe Electric Inc. (IE) shares are Fidelity Contrafund Inc and ETF Managers Tr-ETFMG Prime Junior Silver ETF. Data provided on Feb 27, 2023 indicates that Fidelity Contrafund Inc owns about 5.37 million shares. This amounts to just over 5.78 percent of the company’s overall shares, with a $80.76 million market value. The same data shows that the other fund manager holds slightly less at 1.06 million, or about 1.14% of the stock, which is worth about $12.86 million.

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