The stock of Ivanhoe Electric Inc (AMEX: IE) has decreased by -8.49 when compared to last closing price of 10.60. Despite this, the company has experienced a -8.92% fall in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-02-26 that Ivanhoe Electric (IE) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.29. This compares to loss of $0.41 per share a year ago.
Is It Worth Investing in Ivanhoe Electric Inc (AMEX: IE) Right Now?
IE has 36-month beta value of 0.79. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for IE is 70.69M, and currently, short sellers hold a 5.66% ratio of that float. The average trading volume of IE on April 23, 2024 was 502.15K shares.
IE’s Market Performance
IE stock saw an increase of -8.92% in the past week, with a monthly gain of 9.73% and a quarterly increase of 7.30%. The volatility ratio for the week is 5.81%, and the volatility levels for the last 30 days are 5.25% for Ivanhoe Electric Inc (IE). The simple moving average for the last 20 days is -3.67% for IE stock, with a simple moving average of -14.40% for the last 200 days.
Analysts’ Opinion of IE
Many brokerage firms have already submitted their reports for IE stocks, with JP Morgan repeating the rating for IE by listing it as a “Overweight.” The predicted price for IE in the upcoming period, according to JP Morgan is $18 based on the research report published on October 17, 2023 of the previous year 2023.
Scotiabank, on the other hand, stated in their research note that they expect to see IE reach a price target of $14. The rating they have provided for IE stocks is “Sector Perform” according to the report published on December 22nd, 2022.
Raymond James gave a rating of “Outperform” to IE, setting the target price at $12 in the report published on September 28th of the previous year.
IE Trading at 8.31% from the 50-Day Moving Average
After a stumble in the market that brought IE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -42.09% of loss for the given period.
Volatility was left at 5.25%, however, over the last 30 days, the volatility rate increased by 5.81%, as shares surge +10.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.16% upper at present.
During the last 5 trading sessions, IE fell by -8.92%, which changed the moving average for the period of 200-days by -30.37% in comparison to the 20-day moving average, which settled at $10.12. In addition, Ivanhoe Electric Inc saw -3.77% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IE starting from Kuntz Glen Nickolas, who purchase 1,342 shares at the price of $8.23 back on Mar 06 ’24. After this action, Kuntz Glen Nickolas now owns 3,042 shares of Ivanhoe Electric Inc, valued at $11,045 using the latest closing price.
Markin Quentin, the of Ivanhoe Electric Inc, purchase 20,000 shares at $7.45 during a trade that took place back on Mar 01 ’24, which means that Markin Quentin is holding 69,950 shares at $149,000 based on the most recent closing price.
Stock Fundamentals for IE
Current profitability levels for the company are sitting at:
- -46.22 for the present operating margin
- -8.45 for the gross margin
The net margin for Ivanhoe Electric Inc stands at -51.73. The total capital return value is set at -0.4. Equity return is now at value -68.68, with -53.29 for asset returns.
Based on Ivanhoe Electric Inc (IE), the company’s capital structure generated 0.17 points at debt to capital in total, while cash flow to debt ratio is standing at -1.93. The debt to equity ratio resting at 0.21. The interest coverage ratio of the stock is -60.95.
Currently, EBITDA for the company is -177.76 million with net debt to EBITDA at 0.59. When we switch over and look at the enterprise to sales, we see a ratio of 266.75. The receivables turnover for the company is 1.17for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.45.
Conclusion
To put it simply, Ivanhoe Electric Inc (IE) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
