Can Ivanhoe Electric Inc. (IE) Add Value To Your Portfolio?


As of Friday close, Ivanhoe Electric Inc.’s (AMEX:IE) stock was up $0.45, moving up 4.01 percent to $11.67. The average number of shares traded per day over the past five days has been 1,297,440 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.18 fall in that time frame. In the last twenty days, the average volume was 654,870, while in the previous 50 days, it was 418,282.

Since last month, IE stock retreated -22.10%. Shares of the company fell to $10.97 on 03/17/23, the lowest level in the past month. Since the beginning of this year, IE’s stock price has dropped by -3.95% or -$0.48, and marked a new high 11 times. However, the stock has declined by -29.49% since its 52-week high.

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IE stock investors should be aware that Ivanhoe Electric Inc. (IE) stock had its last reported insider trading activity 109 days ago on Nov 29. FRIEDLAND ROBERT M, the Executive Chairman of the company, purchased of 422,767 shares for $9.85 on Nov 29. It resulted in a $4,164,255 investment by the insider. I-Pulse Inc. sold 416,666 shares at an average price of $8.00 on Sep 20. The insider now owns 9,755,495 shares following the transaction. On Sep 16, Chief Executive Officer FRIEDLAND ROBERT M bought 416,666 shares at $8.00 apiece. The transaction was valued at $3,333,328.

Financial Health

In the three months ended September 29, Ivanhoe Electric Inc.’s quick ratio stood at 9.20, while its current ratio was 9.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.10, and the total debt-to-equity ratio was 0.10. On the profitability front, the trailing twelve-month gross margin is 84.10% percent. Based on annual data, IE earned $5.3 million in gross profit and brought in $8.44 million in revenue.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. IE’s revenue rose 100.0% to $1.18 million during the quarter, while net income inched up to $7.03 million. While analysts expected Ivanhoe Electric Inc. to report -$0.23 quarterly earnings, the actual figure was -$0.43 per share, beating the consensus estimate by -87.00%. During the quarter, the company generated $3.4 million in EBITDA. The liabilities of Ivanhoe Electric Inc. were 58.04 million at the end of its most recent quarter ended September 29, and its total debt was $27.03 million. The value of shareholders’ equity is $92.97 million.

Technical Picture

This quick technical analysis looks at Ivanhoe Electric Inc.’s (IE) price momentum. With a historical volatility rate of 63.85%, the RSI 9-day stood at 30.02% on 17 March.

With respect to its five-day moving average, the current Ivanhoe Electric Inc. price is down by -9.18% percent or -$1.18. At present, IE shares trade -23.97% below its 20-day simple moving average and +37.29% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.10% below its SMA50.

Stochastic coefficient K was 7.89% and Stochastic coefficient D was 8.72%, while ATR was 0.99. Given the Stochastic reading of 12.54% for the 14-day period, the RSI (14) reading has been calculated as 34.96%. As of today, the MACD Oscillator reading stands at -1.44, while the 14-day reading stands at -2.37.

Analyst Ratings

Scotiabank launched its rating on Ivanhoe Electric Inc. (AMEX: IE) to a Sector perform in a note to investors on December 22, 2022. Ivanhoe Electric Inc. (IE) has been rated Buy by analysts. According to 0 brokerage firms, IE is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Ivanhoe Electric Inc. stock as buy, with 3 recommending it as overweight.

With a median target price of $17.00, the current consensus forecast for the stock is $16.00 – $19.00. Based on these forecasts, analysts predict Ivanhoe Electric Inc. (IE) will achieve an average price target of $17.25.


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