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 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.

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

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.