Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Given Average Recommendation of “Buy” by Brokerages

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) have been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $15.70.

A number of analysts have recently commented on the company. National Bank Financial raised shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Wednesday, September 3rd. National Bankshares assumed coverage on Ivanhoe Electric in a research report on Wednesday, September 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. upped their price target on Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Raymond James Financial increased their price target on Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Cantor Fitzgerald assumed coverage on Ivanhoe Electric in a research note on Thursday, August 21st. They issued an “overweight” rating and a $17.00 price objective on the stock.

Institutional Investors Weigh In On Ivanhoe Electric

Several hedge funds and other institutional investors have recently made changes to their positions in IE. IFP Advisors Inc boosted its holdings in shares of Ivanhoe Electric by 138.1% in the 3rd quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock worth $83,000 after buying an additional 3,717 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Ivanhoe Electric by 13.6% in the third quarter. Alyeska Investment Group L.P. now owns 2,100,686 shares of the company’s stock valued at $26,364,000 after acquiring an additional 251,361 shares during the last quarter. Potrero Capital Research LLC bought a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $17,381,000. Prelude Capital Management LLC purchased a new stake in shares of Ivanhoe Electric during the 3rd quarter worth approximately $362,000. Finally, Mariner LLC raised its holdings in shares of Ivanhoe Electric by 52.7% in the 3rd quarter. Mariner LLC now owns 23,368 shares of the company’s stock worth $293,000 after purchasing an additional 8,065 shares during the period. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Trading Up 12.8%

Shares of NYSEAMERICAN:IE opened at $14.87 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of -36.27 and a beta of 1.00. Ivanhoe Electric has a 1 year low of $4.50 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.41 and a quick ratio of 1.41. The business’s 50 day simple moving average is $13.65 and its 200 day simple moving average is $10.70.

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.