Ivanhoe Electric (NYSEAMERICAN:IE) Price Target Raised to $13.00

Ivanhoe Electric (NYSEAMERICAN:IE - Free Report) had its price target lifted by Scotiabank from $12.50 to $13.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other equities research analysts have also recently commented on IE. JPMorgan Chase & Co. decreased their price objective 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. Raymond James Financial set a $15.00 target price on Ivanhoe Electric and gave the stock an "outperform" rating in a report on Friday, April 4th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $12.75.

Ivanhoe Electric Trading Down 2.4%

Shares of NYSEAMERICAN IE traded down $0.23 during mid-day trading on Tuesday, hitting $9.68. The company's stock had a trading volume of 1,340,157 shares, compared to its average volume of 747,420. Ivanhoe Electric has a one year low of $4.50 and a one year high of $12.13. The company's fifty day simple moving average is $7.23 and its 200-day simple moving average is $7.40. 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 stock has a market cap of $1.28 billion, a price-to-earnings ratio of -11.38 and a beta of 0.78.

Hedge Funds Weigh In On Ivanhoe Electric

Several institutional investors have recently modified their holdings of IE. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ivanhoe Electric during the fourth quarter worth about $80,000. GAMMA Investing LLC boosted its holdings in Ivanhoe Electric by 456.9% during 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 bought a new position in Ivanhoe Electric in the first quarter valued at $67,000. BNP Paribas Financial Markets acquired a new stake in Ivanhoe Electric in the 4th quarter valued at $89,000. Finally, Eagle Global Advisors LLC acquired a new stake in Ivanhoe Electric in the 4th quarter valued at $100,000. Institutional investors own 79.05% of the company's stock.

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.