Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Receives Consensus Rating of “Buy” from Analysts

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) have received an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.70.

Several equities analysts recently commented on IE shares. JPMorgan Chase & Co. boosted their price target on Ivanhoe Electric from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. National Bank Financial upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Wednesday, September 3rd. Raymond James Financial lifted their price target on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. Finally, National Bankshares assumed coverage on Ivanhoe Electric in a research note on Wednesday, September 3rd. They set an “outperform” rating for the company.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN IE opened at $16.85 on Wednesday. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $17.90. The business has a 50-day moving average of $14.22 and a 200-day moving average of $11.69. 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 company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -41.10 and a beta of 1.00.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors have recently made changes to their positions in the business. Eagle Global Advisors LLC grew its position in shares of Ivanhoe Electric by 7.6% during the second quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company’s stock worth $154,000 after buying an additional 1,200 shares in the last quarter. Invesco Ltd. grew its holdings in Ivanhoe Electric by 3.8% during the 2nd quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after acquiring an additional 1,247 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Ivanhoe Electric by 13.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock worth $118,000 after purchasing an additional 1,587 shares during the last quarter. BNP Paribas Financial Markets increased 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 purchasing an additional 2,449 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Ivanhoe Electric by 1.5% in the 3rd quarter. Swiss National Bank now owns 167,100 shares of the company’s stock valued at $2,097,000 after purchasing an additional 2,500 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

About Ivanhoe Electric

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.