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

Ivanhoe Electric logo with Business Services background

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) was upgraded by equities researchers at Raymond James Financial to a "moderate buy" rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $15.00 target price on the stock. Raymond James Financial's price target suggests a potential upside of 60.26% from the stock's current price.

A number of other equities research analysts also recently weighed in on IE. JPMorgan Chase & Co. cut 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. Scotiabank reaffirmed an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ivanhoe Electric presently has an average rating of "Buy" and an average target price of $13.25.

View Our Latest Stock Analysis on IE

Ivanhoe Electric Stock Up 1.3%

IE traded up $0.12 on Monday, reaching $9.36. 389,987 shares of the company traded hands, compared to its average volume of 744,884. 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's 50 day moving average price is $7.48 and its 200-day moving average price is $7.33. Ivanhoe Electric has a 52-week low of $4.50 and a 52-week high of $12.13.

Institutional Investors Weigh In On Ivanhoe Electric

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Ivanhoe Electric by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,831,620 shares of the company's stock valued at $39,692,000 after buying an additional 1,988,562 shares in the last quarter. Vanguard Group Inc. raised its position in Ivanhoe Electric by 10.7% in the 1st quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company's stock worth $29,851,000 after purchasing an additional 496,058 shares during the last quarter. Kopernik Global Investors LLC lifted its holdings in Ivanhoe Electric by 5.4% during the 4th quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company's stock worth $19,307,000 after buying an additional 130,807 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in Ivanhoe Electric by 4.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,081,096 shares of the company's stock valued at $15,712,000 after buying an additional 95,749 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its stake in shares of Ivanhoe Electric by 2.3% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,713,186 shares of the company's stock valued at $10,844,000 after buying an additional 37,719 shares during the period. 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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