Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price gapped up before the market opened on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $18.00. The stock had previously closed at $14.45, but opened at $15.48. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ivanhoe Electric shares last traded at $15.30, with a volume of 995,360 shares changing hands.
A number of other research analysts have also recently commented on the stock. National Bankshares initiated coverage on shares of Ivanhoe Electric in a report on Wednesday, September 3rd. They issued an "outperform" rating on the stock. National Bank Financial raised shares of Ivanhoe Electric to a "strong-buy" rating in a research report on Wednesday, September 3rd. Scotiabank reaffirmed an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. 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 price target on the stock. Finally, Raymond James Financial upgraded shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price target on the stock in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $14.60.
Get Our Latest Stock Report on IE
Insider Activity at Ivanhoe Electric
In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction 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 transaction, the vice president owned 194,226 shares in the company, valued at $1,732,495.92. The trade was a 40.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.06% of the stock is currently owned by corporate insiders.
Institutional Trading of Ivanhoe Electric
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in 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% in 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 period. Teacher Retirement System of Texas purchased a new stake in Ivanhoe Electric during the first quarter worth about $67,000. BNP Paribas Financial Markets increased its stake 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 period. Finally, AlphaQuest LLC increased its stake 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 period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Ivanhoe Electric Price Performance
The company has a debt-to-equity ratio of 0.18, a current ratio of 3.84 and a quick ratio of 3.84. The company has a market capitalization of $2.07 billion, a PE ratio of -24.34 and a beta of 0.98. The stock's 50 day simple moving average is $9.94 and its 200-day simple moving average is $8.48.
Ivanhoe Electric Company Profile
(
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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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