Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price shot up 7.7% during trading on Wednesday . The company traded as high as $11.07 and last traded at $10.97. 1,986,657 shares were traded during mid-day trading, an increase of 129% from the average session volume of 867,271 shares. The stock had previously closed at $10.18.
Analysts Set New Price Targets
Several equities analysts recently commented on IE shares. JPMorgan Chase & Co. upped their price target on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. 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. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $13.25.
Check Out Our Latest Research Report on IE
Ivanhoe Electric Trading Up 0.9%
The company's 50 day moving average price is $8.29 and its two-hundred day moving average price is $7.23. 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 stock has a market capitalization of $1.50 billion, a PE ratio of -13.32 and a beta of 0.88.
Institutional Investors Weigh In On Ivanhoe Electric
A number of institutional investors and hedge funds have recently made changes to their positions in IE. Truist Financial Corp grew its holdings in shares of Ivanhoe Electric by 36.4% in the second quarter. Truist Financial Corp now owns 15,000 shares of the company's stock valued at $136,000 after purchasing an additional 4,000 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in shares of Ivanhoe Electric by 7.6% in the second quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company's stock valued at $154,000 after purchasing an additional 1,200 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Ivanhoe Electric in the second quarter valued at approximately $93,000. Invst LLC acquired a new position in shares of Ivanhoe Electric in the first quarter valued at approximately $1,302,000. Finally, Rhumbline Advisers grew its holdings in shares of Ivanhoe Electric by 5.4% in the first quarter. Rhumbline Advisers now owns 112,663 shares of the company's stock valued at $655,000 after purchasing an additional 5,740 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.
About Ivanhoe Electric
(
Get Free Report)
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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