Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Given Consensus Recommendation of "Buy" by Analysts

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) have received a consensus rating of "Buy" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $14.60.

IE has been the subject of a number of recent research reports. National Bank Financial upgraded shares of Ivanhoe Electric to a "strong-buy" rating in a research note on Wednesday, September 3rd. Raymond James Financial upgraded shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. Cantor Fitzgerald assumed coverage on shares of Ivanhoe Electric in a report on Thursday, August 21st. They issued an "overweight" rating and a $17.00 target price on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ivanhoe Electric from $14.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday.

Insider Buying and Selling at Ivanhoe Electric

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

Institutional Investors Weigh In On Ivanhoe Electric

A number of hedge funds have recently added to or reduced their stakes in IE. Price T Rowe Associates Inc. MD grew its holdings in Ivanhoe Electric by 41.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,831,620 shares of the company's stock worth $39,692,000 after acquiring an additional 1,988,562 shares during the last quarter. Primecap Management Co. CA grew its holdings in Ivanhoe Electric by 229.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,574,884 shares of the company's stock worth $14,284,000 after acquiring an additional 1,097,484 shares during the last quarter. EdgePoint Investment Group Inc. bought a new stake in Ivanhoe Electric during the 1st quarter worth about $4,284,000. Legal & General Group Plc grew its holdings in Ivanhoe Electric by 44.5% during the 2nd quarter. Legal & General Group Plc now owns 1,759,911 shares of the company's stock worth $15,962,000 after acquiring an additional 541,719 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Ivanhoe Electric by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company's stock worth $29,851,000 after acquiring an additional 496,058 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Trading Up 3.4%

Shares of IE stock opened at $14.94 on Friday. Ivanhoe Electric has a 52-week low of $4.50 and a 52-week high of $16.22. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -23.34 and a beta of 0.98. 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 fifty day moving average of $10.04 and a 200-day moving average of $8.53.

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.

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