Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Receives $15.70 Average Price Target from Brokerages

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.70.

Several research firms have recently weighed in on IE. Raymond James Financial lifted their price objective on Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. National Bank Financial raised shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Wednesday, September 3rd. National Bankshares started coverage on shares of Ivanhoe Electric in a report on Wednesday, September 3rd. They set an “outperform” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. raised their price objective on Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th.

Ivanhoe Electric Stock Performance

Shares of IE stock opened at $12.59 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.84 and a current ratio of 3.84. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -19.67 and a beta of 0.99. Ivanhoe Electric has a one year low of $4.50 and a one year high of $17.90. The company has a 50 day moving average price of $12.23 and a 200 day moving average price of $9.83.

Insider Transactions at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $8.92, for a total transaction of $1,195,806.28. Following the sale, the vice president owned 194,226 shares in the company, valued at $1,732,495.92. This trade represents a 40.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of IE. Tower Research Capital LLC TRC grew its position in Ivanhoe Electric by 146.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after purchasing an additional 3,713 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Ivanhoe Electric during the 1st quarter worth about $67,000. BNP Paribas Financial Markets boosted its position in Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after acquiring an additional 2,449 shares during the period. AlphaQuest LLC increased its stake in Ivanhoe Electric by 881.3% in the 2nd quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after buying an additional 8,381 shares during the period. Finally, Eagle Global Advisors LLC lifted its position in Ivanhoe Electric by 19.7% in the 1st quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company’s stock worth $92,000 after buying an additional 2,600 shares in the last quarter. 79.05% of the stock is currently 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.