Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) shares traded up 6.8% during trading on Thursday . The company traded as high as $10.29 and last traded at $10.25. 574,432 shares were traded during trading, a decline of 24% from the average session volume of 754,774 shares. The stock had previously closed at $9.59.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on IE shares. JPMorgan Chase & Co. increased their price objective on Ivanhoe Electric from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Finally, Raymond James Financial raised Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Three equities 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.com, the stock currently has an average rating of "Buy" and an average target price of $13.25.
Check Out Our Latest Research Report on Ivanhoe Electric
Ivanhoe Electric Price Performance
The company has a market cap of $1.38 billion, a PE ratio of -12.22 and a beta of 0.88. 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 of $7.93 and a 200-day moving average of $7.20.
Hedge Funds Weigh In On Ivanhoe Electric
A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Ivanhoe Electric by 41.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,831,620 shares of the company's stock valued at $39,692,000 after acquiring an additional 1,988,562 shares during the period. EdgePoint Investment Group Inc. acquired a new stake in shares of Ivanhoe Electric during the 1st quarter valued at about $4,284,000. Vanguard Group Inc. grew its position in shares of Ivanhoe Electric by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company's stock valued at $29,851,000 after acquiring an additional 496,058 shares during the period. Legal & General Group Plc grew its position in shares of Ivanhoe Electric by 59.8% during the 4th quarter. Legal & General Group Plc now owns 1,323,372 shares of the company's stock valued at $9,991,000 after acquiring an additional 495,325 shares during the period. Finally, Vestcor Inc grew its position in shares of Ivanhoe Electric by 191.5% during the 1st quarter. Vestcor Inc now owns 722,781 shares of the company's stock valued at $4,199,000 after acquiring an additional 474,800 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.
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.
Read More
Before you consider Ivanhoe Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ivanhoe Electric wasn't on the list.
While Ivanhoe Electric currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
