Ivanhoe Electric (NYSEAMERICAN:IE) Given New $13.50 Price Target at Scotiabank

Ivanhoe Electric (NYSEAMERICAN:IE) had its target price cut by Scotiabank from $14.00 to $13.50 in a report published on Monday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other brokerages have also recently commented on IE. Jefferies Financial Group cut their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Price Performance

NYSEAMERICAN IE opened at $7.30 on Monday. Ivanhoe Electric has a 12 month low of $6.31 and a 12 month high of $12.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The company has a market capitalization of $879.36 million, a PE ratio of -4.59 and a beta of 0.66.

Hedge Funds Weigh In On Ivanhoe Electric

Several large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Mak Capital One LLC grew its holdings in Ivanhoe Electric by 21.6% in the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after buying an additional 316,903 shares in the last quarter. Goehring & Rozencwajg Associates LLC increased its position in Ivanhoe Electric by 13.9% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after buying an additional 199,400 shares during the period. Raffles Associates LP increased its position in Ivanhoe Electric by 70.0% during the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after buying an additional 457,479 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ivanhoe Electric by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock worth $5,946,000 after buying an additional 8,023 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.