Ivanhoe Electric (NYSEAMERICAN:IE) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Ivanhoe Electric (NYSEAMERICAN:IE) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Cantor Fitzgerald assumed coverage on Ivanhoe Electric in a research note on Thursday, August 21st. They issued an “overweight” rating and a $17.00 price objective on the stock. National Bankshares assumed coverage on Ivanhoe Electric in a research note on Wednesday. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price objective on Ivanhoe Electric from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, June 30th. Finally, Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $14.00.

Ivanhoe Electric Stock Up 0.6%

Shares of IE stock opened at $8.92 on Wednesday. The stock’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $7.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.84 and a current ratio of 3.84. Ivanhoe Electric has a twelve month low of $4.50 and a twelve month high of $13.25. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -13.94 and a beta of 0.88.

Insider Activity

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $8.92, for a total value of $1,195,806.28. Following the completion of the sale, the vice president directly owned 194,226 shares in the company, valued at $1,732,495.92. This represents a 40.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Eagle Global Advisors LLC boosted its position in shares of Ivanhoe Electric by 7.6% during the second quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company’s stock worth $154,000 after buying an additional 1,200 shares during the period. Invesco Ltd. boosted its position in shares of Ivanhoe Electric by 3.8% during the second quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after buying an additional 1,247 shares during the period. Teacher Retirement System of Texas boosted its position in Ivanhoe Electric by 13.9% during the second quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock valued at $118,000 after purchasing an additional 1,587 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after purchasing an additional 2,449 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after purchasing an additional 3,713 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

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.