JPMorgan Chase & Co. Issues Positive Forecast for Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price

Ivanhoe Electric (NYSEAMERICAN:IE) had its price objective raised by research analysts at JPMorgan Chase & Co. from $18.00 to $22.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 32.05% from the company’s current price.

Several other research analysts have also recently issued reports on IE. Raymond James Financial raised their target price on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $18.13.

Ivanhoe Electric Trading Down 1.7%

NYSEAMERICAN IE opened at $16.66 on Thursday. The firm has a market cap of $2.41 billion, a PE ratio of -40.63 and a beta of 0.98. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $17.90. The stock has a 50-day moving average of $14.36 and a 200-day moving average of $12.12. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, insider Quentin Markin sold 90,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $16.34, for a total value of $1,470,600.00. Following the completion of the transaction, the insider directly owned 728,493 shares in the company, valued at approximately $11,903,575.62. This represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.06% of the company’s stock.

Institutional Investors Weigh In On Ivanhoe Electric

A number of large investors have recently modified their holdings of IE. Tower Research Capital LLC TRC raised its stake in Ivanhoe Electric by 146.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after buying an additional 3,713 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Ivanhoe Electric by 138.1% during the 3rd quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock worth $83,000 after acquiring an additional 3,717 shares during the period. Comerica Bank raised its position in shares of Ivanhoe Electric by 352.3% in the 3rd quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after acquiring an additional 5,450 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Ivanhoe Electric by 43.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after acquiring an additional 2,449 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $103,000. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Company Profile

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.