Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,446,193 shares changed hands during mid-day trading, an increase of 81% from the previous session's volume of 800,716 shares.The stock last traded at $11.70 and had previously closed at $11.32.
Wall Street Analysts Forecast Growth
IE has been the topic of a number of recent research reports. Scotiabank reissued 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 target price for the company in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. lifted their target price on Ivanhoe Electric from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Ivanhoe Electric presently has a consensus rating of "Buy" and a consensus target price of $13.25.
Get Our Latest Report on IE
Ivanhoe Electric Trading Up 0.8%
The company has a 50-day moving average price of $8.38 and a 200-day moving average price of $7.22. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -13.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.07 and a current ratio of 3.07.
Hedge Funds Weigh In On Ivanhoe Electric
A number of large investors have recently modified their holdings of IE. GAMMA Investing LLC grew its holdings in Ivanhoe Electric by 456.9% during the 1st quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock valued at $65,000 after buying an additional 9,119 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Ivanhoe Electric in the first quarter valued at approximately $67,000. BNP Paribas Financial Markets acquired a new position in Ivanhoe Electric in the fourth quarter valued at approximately $89,000. Eagle Global Advisors LLC boosted its position in shares of Ivanhoe Electric by 19.7% during the first 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 during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Ivanhoe Electric during the second quarter worth approximately $93,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
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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