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

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) had its price objective raised by research analysts at JPMorgan Chase & Co. from $13.00 to $15.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 67.22% from the company's current price.

Several other research firms have also issued reports on IE. Raymond James Financial raised shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 target price for the company in a report on Monday. Scotiabank restated an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $13.25.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE traded down $0.10 during midday trading on Monday, reaching $8.97. 337,739 shares of the company's stock traded hands, compared to its average volume of 741,224. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -10.56 and a beta of 0.78. The stock has a 50 day moving average of $7.36 and a 200 day moving average of $7.35. Ivanhoe Electric has a one year low of $4.50 and a one year high of $12.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.07 and a current ratio of 3.07.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ivanhoe Electric during the 4th quarter valued at $80,000. GAMMA Investing LLC raised its holdings in shares of Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock worth $65,000 after purchasing an additional 9,119 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Ivanhoe Electric in the first quarter valued at $67,000. BNP Paribas Financial Markets purchased a new position in shares of Ivanhoe Electric during the 4th quarter valued at about $89,000. Finally, Eagle Global Advisors LLC acquired a new position in Ivanhoe Electric in the fourth quarter valued at approximately $100,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

About Ivanhoe Electric

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.