Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $11.69 and last traded at $11.33, with a volume of 348498 shares changing hands. The stock had previously closed at $11.22.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on IE shares. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 target price on the stock in a research note on Monday, June 30th. JPMorgan Chase & Co. lifted their target price on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Finally, Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $13.25.
Get Our Latest Stock Analysis on IE
Ivanhoe Electric Trading Up 4.9%
The firm has a market cap of $1.59 billion, a PE ratio of -14.09 and a beta of 0.88. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average price of $8.38 and a 200 day moving average price of $7.22.
Institutional Trading of Ivanhoe Electric
Several hedge funds have recently modified their holdings of IE. Eagle Global Advisors LLC increased its stake in Ivanhoe Electric by 7.6% in the second quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company's stock valued at $154,000 after purchasing an additional 1,200 shares during the last quarter. MetLife Investment Management LLC increased its stake in Ivanhoe Electric by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 51,922 shares of the company's stock valued at $392,000 after purchasing an additional 2,948 shares during the last quarter. FNY Investment Advisers LLC increased its stake in Ivanhoe Electric by 19.0% in the first quarter. FNY Investment Advisers LLC now owns 25,000 shares of the company's stock valued at $145,000 after purchasing an additional 4,000 shares during the last quarter. Truist Financial Corp grew its position in Ivanhoe Electric by 36.4% during the second quarter. Truist Financial Corp now owns 15,000 shares of the company's stock valued at $136,000 after acquiring an additional 4,000 shares during the period. Finally, California State Teachers Retirement System grew its position in Ivanhoe Electric by 6.5% during the fourth quarter. California State Teachers Retirement System now owns 73,530 shares of the company's stock valued at $555,000 after acquiring an additional 4,462 shares during the period. 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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