Ivanhoe Electric (NYSEAMERICAN:IE) Stock Rating Upgraded by Raymond James Financial

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) was upgraded by equities researchers at Raymond James Financial to a "moderate buy" rating in a research report issued on Monday, MarketBeat.com reports. The brokerage currently has a $15.00 price objective on the stock. Raymond James Financial's target price would suggest a potential upside of 65.38% from the company's previous close.

A number of other research analysts also recently commented on the company. Scotiabank restated an "outperform" rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. JPMorgan Chase & Co. decreased their price target on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Ivanhoe Electric presently has an average rating of "Buy" and an average price target of $13.25.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $9.07 on Monday. The stock's 50 day moving average price is $7.36 and its 200 day moving average price is $7.35. The firm has a market capitalization of $1.20 billion, a PE ratio of -10.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.07 and a current ratio of 3.07. Ivanhoe Electric has a one year low of $4.50 and a one year high of $12.13.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Ivanhoe Electric by 5.4% during the 1st quarter. Rhumbline Advisers now owns 112,663 shares of the company's stock valued at $655,000 after acquiring an additional 5,740 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ivanhoe Electric by 34.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 211,513 shares of the company's stock worth $1,597,000 after purchasing an additional 54,771 shares during the period. GAMMA Investing LLC grew its stake in Ivanhoe Electric by 456.9% in 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. Price T Rowe Associates Inc. MD grew its stake in Ivanhoe Electric by 13.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,843,058 shares of the company's stock valued at $36,566,000 after acquiring an additional 589,456 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ivanhoe Electric by 78.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company's stock valued at $6,995,000 after purchasing an additional 402,879 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

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.