Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 10.8% - What's Next?

Key Points

• Ivanhoe Electric's stock price increased by 10.8% on Monday, with shares trading as high as $16.83, reflecting a significant rise from the previous close of $15.19.
• Analysts have a positive outlook, with several recent reports giving Ivanhoe Electric ratings such as "overweight" and "outperform", and setting price targets as high as $17.00.
• Institutional investors own 79.05% of Ivanhoe Electric, with notable stake increases from firms like Tower Research Capital and BNP Paribas Financial Markets during the second quarter.

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s share price rose 10.8% on Monday . The company traded as high as $16.79 and last traded at $16.83. Approximately 1,358,102 shares changed hands during trading, an increase of 18% from the average daily volume of 1,152,497 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

IE has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on Ivanhoe Electric in a research report on Thursday, August 21st. They set an "overweight" rating and a $17.00 price objective for the company. National Bankshares began coverage on Ivanhoe Electric in a research note on Wednesday, September 3rd. They issued an "outperform" rating for the company. Raymond James Financial raised their price objective on Ivanhoe Electric from $15.00 to $16.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Finally, National Bank Financial raised Ivanhoe Electric to a "strong-buy" rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat.com, Ivanhoe Electric presently has a consensus rating of "Buy" and an average price target of $14.80.

Ivanhoe Electric Trading Up 10.3%

The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -26.17 and a beta of 0.98. The business has a 50 day simple moving average of $10.78 and a 200-day simple moving average of $8.97.

Insider Buying and Selling

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $8.92, for a total value of $1,195,806.28. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. 12.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ivanhoe Electric

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company's stock valued at $57,000 after acquiring an additional 3,713 shares during the period. BNP Paribas Financial Markets grew its position in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company's stock valued at $73,000 after acquiring an additional 2,449 shares during the period. AlphaQuest LLC grew its position in Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company's stock valued at $85,000 after acquiring an additional 8,381 shares during the period. Ballentine Partners LLC purchased a new stake in Ivanhoe Electric during the second quarter valued at about $93,000. Finally, GAMMA Investing LLC grew its position in Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock valued at $65,000 after acquiring an additional 9,119 shares during the period. Hedge funds and other 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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