Ivanhoe Electric (NYSEAMERICAN:IE) Price Target Raised to $15.00 at JPMorgan Chase & Co.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) had its target price increased by analysts at JPMorgan Chase & Co. from $13.00 to $15.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 60.26% from the stock's previous close.

IE has been the subject of several other research reports. Scotiabank reaffirmed an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Raymond James Financial raised Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price objective for the company in a research note on Monday. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ivanhoe Electric currently has an average rating of "Buy" and a consensus target price of $13.25.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE traded up $0.12 during midday trading on Monday, hitting $9.36. The company had a trading volume of 389,987 shares, compared to its average volume of 744,884. Ivanhoe Electric has a 12-month low of $4.50 and a 12-month high of $12.13. The company has a fifty day moving average of $7.53 and a two-hundred day moving average of $7.32. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -11.01 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.07 and a quick ratio of 3.07.

Hedge Funds Weigh In On Ivanhoe Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ivanhoe Electric by 41.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,831,620 shares of the company's stock worth $39,692,000 after acquiring an additional 1,988,562 shares during the last quarter. Vanguard Group Inc. lifted its stake in Ivanhoe Electric by 10.7% in the first quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company's stock worth $29,851,000 after purchasing an additional 496,058 shares during the last quarter. Kopernik Global Investors LLC lifted its stake in Ivanhoe Electric by 5.4% in the fourth quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company's stock worth $19,307,000 after purchasing an additional 130,807 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Ivanhoe Electric by 4.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,081,096 shares of the company's stock valued at $15,712,000 after buying an additional 95,749 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its stake in shares of Ivanhoe Electric by 2.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,713,186 shares of the company's stock valued at $10,844,000 after buying an additional 37,719 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.