Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) were up 7.7% during mid-day trading on Wednesday . The stock traded as high as $11.07 and last traded at $10.97. Approximately 1,986,657 shares traded hands during trading, an increase of 129% from the average daily volume of 867,271 shares. The stock had previously closed at $10.18.
Analysts Set New Price Targets
IE has been the subject of a number of research analyst reports. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price target for the company in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ivanhoe Electric has a consensus rating of "Buy" and an average target price of $13.25.
Read Our Latest Research Report on IE
Ivanhoe Electric Stock Up 0.9%
The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.07 and a current ratio of 3.07. The stock has a 50 day moving average price of $8.38 and a 200 day moving average price of $7.24. The company has a market cap of $1.50 billion, a P/E ratio of -13.32 and a beta of 0.88.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of IE. Charles Schwab Investment Management Inc. raised its position in Ivanhoe Electric by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company's stock valued at $5,348,000 after buying an additional 5,535 shares during the period. Swiss National Bank grew its stake in Ivanhoe Electric by 8.4% in the fourth quarter. Swiss National Bank now owns 153,900 shares of the company's stock valued at $1,162,000 after purchasing an additional 11,900 shares in the last quarter. Intech Investment Management LLC grew its stake in Ivanhoe Electric by 125.8% in the fourth quarter. Intech Investment Management LLC now owns 43,211 shares of the company's stock valued at $326,000 after purchasing an additional 24,074 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Ivanhoe Electric in the fourth quarter valued at about $103,000. Finally, JPMorgan Chase & Co. grew its stake in Ivanhoe Electric by 7.8% in the fourth quarter. JPMorgan Chase & Co. now owns 72,196 shares of the company's stock valued at $545,000 after purchasing an additional 5,245 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.
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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