Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Ivanhoe Electric Inc. has received an average recommendation of "Buy" from seven brokerages, with five analysts endorsing a buy and two a strong buy, alongside a 1-year price target of $14.00.
• Recent insider activity includes VP Graham Richard Thomas Boyd selling 134,059 shares at an average price of $8.92, a significant 40.84% decrease in his holdings.
• Multiple hedge funds increased their stakes in Ivanhoe Electric, with notable boosts from Eagle Global Advisors and Tower Research Capital, indicating strong institutional interest in the company.

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) has been given an average recommendation of "Buy" by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.00.

A number of analysts recently commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Cantor Fitzgerald assumed coverage on Ivanhoe Electric in a research report on Thursday, August 21st. They issued an "overweight" rating and a $17.00 target price for the company. National Bank Financial raised Ivanhoe Electric to a "strong-buy" rating in a research report on Wednesday, September 3rd. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price target for the company in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. lifted their price target on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, June 30th.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $8.92, for a total transaction of $1,195,806.28. Following the completion of the transaction, the vice president owned 194,226 shares in the company, valued at approximately $1,732,495.92. The trade was a 40.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.06% of the company's stock.

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Global Advisors LLC boosted its stake in shares of Ivanhoe Electric by 7.6% in the 2nd 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 last quarter. Invesco Ltd. lifted its stake in Ivanhoe Electric by 3.8% in the second quarter. Invesco Ltd. now owns 33,674 shares of the company's stock valued at $305,000 after purchasing an additional 1,247 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Ivanhoe Electric by 13.9% in 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 lifted its stake in Ivanhoe Electric by 43.6% in 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 lifted its stake in Ivanhoe Electric by 146.0% in 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. Hedge funds and other institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Stock Performance

IE stock opened at $8.56 on Monday. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $13.25. The firm has a market cap of $1.14 billion, a PE ratio of -13.37 and a beta of 0.88. The stock has a 50-day moving average price of $9.80 and a 200-day moving average price of $7.83. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18.

About Ivanhoe Electric

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.

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