The stock of Ivanhoe Electric Inc (AMEX: IE) has increased by 13.50 when compared to last closing price of 7.41.Despite this, the company has seen a gain of 14.27% in its stock price over the last five trading days. newsfilecorp.com reported 2024-09-23 that Ivanhoe Electric to Use $20 Million of the Transaction Proceeds to Establish U.S.-based Grid Scale Vanadium Redox Flow Battery Manufacturing in Arizona Existing VRB Energy Manufacturing Operation in China to become 51/49 Joint Venture Following $35 Million Investment from Red Sun, a Leading Asian New Energy Group Phoenix, Arizona–(Newsfile Corp. – September 23, 2024) – Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) (“Ivanhoe Electric”) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that the Company’s 90%-owned subsidiary, VRB Energy Inc. (“VRB Energy”), has executed a binding Term Sheet (the “Agreement”) with a subsidiary of privately held Shanxi Red Sun Co., Ltd. (“Red Sun”) and VRB Energy’s wholly-owned subsidiary, VRB Energy System (Beijing) Co., Ltd.
Is It Worth Investing in Ivanhoe Electric Inc (AMEX: IE) Right Now?
IE has 36-month beta value of 0.81. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for IE is 72.94M, and currently, short sellers hold a 10.10% ratio of that float. The average trading volume of IE on September 25, 2024 was 832.57K shares.
IE’s Market Performance
IE stock saw an increase of 14.27% in the past week, with a monthly gain of 18.79% and a quarterly increase of -10.72%. The volatility ratio for the week is 7.07%, and the volatility levels for the last 30 days are 6.30% for Ivanhoe Electric Inc (IE). The simple moving average for the last 20 days is 18.72% for IE’s stock, with a simple moving average of -9.97% 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 4.61% 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 -39.54% of loss for the given period.
Volatility was left at 6.30%, however, over the last 30 days, the volatility rate increased by 7.07%, as shares surge +17.62% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -30.15% lower at present.
During the last 5 trading sessions, IE rose by +14.27%, which changed the moving average for the period of 200-days by -20.88% in comparison to the 20-day moving average, which settled at $7.15. In addition, Ivanhoe Electric Inc saw -16.57% 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 Gibson Mark Andrew Stuart, who sale 25,000 shares at the price of $12.16 back on May 20 ’24. After this action, Gibson Mark Andrew Stuart now owns 260,272 shares of Ivanhoe Electric Inc, valued at $304,000 using the latest closing price.
Gibson Mark Andrew Stuart, the Chief Operating Officer of Ivanhoe Electric Inc, sale 28,344 shares at $12.45 during a trade that took place back on May 16 ’24, which means that Gibson Mark Andrew Stuart is holding 301,928 shares at $352,883 based on the most recent closing price.
Stock Fundamentals for IE
Current profitability levels for the company are sitting at:
- -30.66 for the present operating margin
- -25.25 for the gross margin
The net margin for Ivanhoe Electric Inc stands at -80.96. The total capital return value is set at -0.23. Equity return is now at value -101.02, with -62.62 for asset returns.
Based on Ivanhoe Electric Inc (IE), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at -2.19. The debt to equity ratio resting at 0.28. The interest coverage ratio of the stock is -32.29.
Currently, EBITDA for the company is -177.76 million with net debt to EBITDA at 0.21. When we switch over and look at the enterprise to sales, we see a ratio of 342.84. The receivables turnover for the company is 1.07for 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 3.66.
Conclusion
To put it simply, Ivanhoe Electric Inc (IE) has had a mixed performance in recent times. Analysts have a bullish 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.
