Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price Up 6.8% - What's Next?

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) was up 6.8% during mid-day trading on Thursday . The company traded as high as $10.29 and last traded at $10.25. Approximately 574,432 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 754,774 shares. The stock had previously closed at $9.59.

Wall Street Analysts Forecast Growth

IE has been the subject of several research reports. Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. JPMorgan Chase & Co. increased their price objective 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. Finally, Raymond James Financial raised shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price objective for the company 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 company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $13.25.

Ivanhoe Electric Stock Up 1.4%

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 company's 50-day simple moving average is $7.85 and its 200 day simple moving average is $7.25. The firm has a market cap of $1.38 billion, a P/E ratio of -12.22 and a beta of 0.88.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently modified their holdings of IE. GAMMA Investing LLC grew its holdings in Ivanhoe Electric by 456.9% in 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 shares of Ivanhoe Electric in the 1st quarter valued at $67,000. BNP Paribas Financial Markets acquired a new position in Ivanhoe Electric during the fourth quarter worth $89,000. Eagle Global Advisors LLC raised its position in shares of Ivanhoe Electric by 19.7% in the first quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company's stock valued at $92,000 after buying an additional 2,600 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Ivanhoe Electric in the fourth quarter valued at about $103,000. 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.