Brokerages Set Ivanhoe Electric Inc. (NYSEAMERICAN:IE) PT at $18.13

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) has been given an average recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $18.1250.

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Ivanhoe Electric from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Raymond James Financial boosted their price target on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th.

Insider Buying and Selling

In other Ivanhoe Electric news, insider Quentin Markin sold 90,000 shares of the firm’s stock in a transaction that occurred 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 owned 728,493 shares of the company’s stock, valued at $11,903,575.62. This trade represents a 11.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 12.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Ivanhoe Electric in the 4th quarter valued at $56,000. Tower Research Capital LLC TRC increased its holdings 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 valued at $57,000 after buying an additional 3,713 shares during the last quarter. IFP Advisors Inc raised its stake in Ivanhoe Electric by 138.1% in the third quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock valued at $83,000 after buying an additional 3,717 shares in the last quarter. Comerica Bank lifted its holdings in Ivanhoe Electric by 352.3% during the 3rd quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after buying an additional 5,450 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Ivanhoe Electric by 43.6% during 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. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock opened at $19.11 on Friday. The firm has a market cap of $2.77 billion, a PE ratio of -46.61 and a beta of 0.98. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.08. Ivanhoe Electric has a 52 week low of $4.50 and a 52 week high of $19.37. The business’s fifty day simple moving average is $15.34 and its 200-day simple moving average is $12.75.

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.