Ivanhoe Electric (NYSEAMERICAN:IE) Shares Down 5.2% - What's Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price fell 5.2% on Monday . The company traded as low as $9.18 and last traded at $9.15. 271,345 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 811,113 shares. The stock had previously closed at $9.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised 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. Raymond James Financial began coverage on shares of Ivanhoe Electric in a research report on Monday. They issued an "outperform" rating and a $15.00 price objective for the company. Finally, Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ivanhoe Electric has a consensus rating of "Buy" and a consensus target price of $13.25.

Ivanhoe Electric Trading Down 7.2%

The company has a market capitalization of $1.19 billion, a P/E ratio of -10.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.07 and a quick ratio of 3.07. The business's 50-day moving average price is $7.30 and its two-hundred day moving average price is $7.36.

Institutional Trading of Ivanhoe Electric

A number of institutional investors have recently made changes to their positions in IE. GAMMA Investing LLC grew its stake in shares of Ivanhoe Electric by 456.9% in the first 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 in the last quarter. Teacher Retirement System of Texas bought a new stake in Ivanhoe Electric in the 1st quarter valued at $67,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ivanhoe Electric in the fourth quarter valued at about $80,000. BNP Paribas Financial Markets acquired a new position in shares of Ivanhoe Electric during the 4th quarter worth approximately $89,000. Finally, Eagle Global Advisors LLC raised its position in shares of Ivanhoe Electric by 19.7% in the first quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company's stock valued at $92,000 after buying an additional 2,600 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

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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