Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) was upgraded by stock analysts at National Bank Financial to a "strong-buy" rating in a research note issued on Wednesday, September 3rd,Zacks.com reports.
A number of other research analysts also recently issued reports on the company. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price target on the stock in a report on Monday, June 30th. 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 report on Monday, June 30th. Cantor Fitzgerald began coverage on Ivanhoe Electric in a report on Thursday, August 21st. They issued an "overweight" rating and a $17.00 price target on the stock. Finally, National Bankshares began coverage on Ivanhoe Electric in a report on Wednesday, September 3rd. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.00.
Read Our Latest Stock Analysis on Ivanhoe Electric
Ivanhoe Electric Stock Up 1.8%
NYSEAMERICAN IE traded up $0.16 on Wednesday, reaching $9.06. 531,421 shares of the stock traded hands, compared to its average volume of 947,826. 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 company has a fifty day moving average price of $9.84 and a 200-day moving average price of $7.76. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -14.16 and a beta of 0.88. Ivanhoe Electric has a 12 month low of $4.50 and a 12 month high of $13.25.
Insiders Place Their Bets
In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction that occurred on 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 sale, the vice president directly owned 194,226 shares of the company's stock, valued at approximately $1,732,495.92. This trade represents a 40.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.06% of the company's stock.
Institutional Trading of Ivanhoe Electric
Several hedge funds have recently modified their holdings of IE. Tower Research Capital LLC TRC lifted its holdings in shares of Ivanhoe Electric by 146.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company's stock valued at $57,000 after buying an additional 3,713 shares during the period. GAMMA Investing LLC raised its holdings in Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock worth $65,000 after purchasing an additional 9,119 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Ivanhoe Electric during the first quarter worth $67,000. BNP Paribas Financial Markets raised its holdings in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company's stock worth $73,000 after purchasing an additional 2,449 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company's stock worth $85,000 after purchasing an additional 8,381 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.
About Ivanhoe Electric
(
Get Free Report)
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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