Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 1.9%

Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Rating)’s stock price rose 1.9% during trading on Tuesday . The stock traded as high as 11.49 and last traded at 11.36. Approximately 451 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 143,475 shares. The stock had previously closed at 11.15.

Wall Street Analysts Forecast Growth

IE has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Ivanhoe Electric in a research report on Thursday, August 18th. They issued a “neutral” rating and a $12.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Ivanhoe Electric in a research report on Monday, July 25th. They issued a “buy” rating and a $13.50 target price for the company. Finally, BMO Capital Markets initiated coverage on shares of Ivanhoe Electric in a research report on Monday, July 25th. They issued an “outperform” rating and a $15.00 target price for the company.

Ivanhoe Electric Stock Performance

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG acquired a new stake in Ivanhoe Electric during the 2nd quarter valued at approximately $26,000. Citadel Advisors LLC acquired a new stake in Ivanhoe Electric during the 2nd quarter valued at approximately $117,000. Virtu Financial LLC acquired a new stake in Ivanhoe Electric during the 2nd quarter valued at approximately $128,000. Jane Street Group LLC acquired a new stake in Ivanhoe Electric during the 2nd quarter valued at approximately $162,000. Finally, Luminus Management LLC acquired a new stake in Ivanhoe Electric during the 2nd quarter valued at approximately $1,986,000. Institutional investors and hedge funds own 35.34% of the company’s stock.

About Ivanhoe Electric

(Get Rating)

Ivanhoe Electric Inc operates as a mineral exploration and development company in the United States. It operates through Critical Metals, Technology, and Energy Storage. The company holds 84.6% interests in the Tintic copper-gold project covering an area of 65 square kilometers located in Utah. It also holds an option to acquire a 100% interest in the Santa Cruz copper project covering an area of 77.59 square kilometers located in Arizona; 75% interest in the Hog Heaven silver-gold-copper project covering an area of 24.2 square kilometers located in Montana; and 60% interest in the Ivory Coast project covering an area of 1,125 square kilometers located in the Ivory Coast.

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