Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Receives $15.70 Consensus Price Target from Analysts

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) has been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six equities 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 target among brokerages that have covered the stock in the last year is $15.70.

IE has been the subject of a number of research analyst reports. National Bankshares began coverage on shares of Ivanhoe Electric in a research report on Wednesday, September 3rd. They set an “outperform” rating for the company. National Bank Financial upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Wednesday, September 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, October 28th. Raymond James Financial increased their target price on Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, October 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in Ivanhoe Electric by 146.0% during the 2nd 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. BNP Paribas Financial Markets increased its position in shares of Ivanhoe Electric by 43.6% during the second 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 during the period. IFP Advisors Inc raised its stake in shares of 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 acquiring an additional 3,717 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Ivanhoe Electric by 881.3% in the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after acquiring an additional 8,381 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Ivanhoe Electric by 352.3% in the third quarter. Comerica Bank now owns 6,997 shares of the company’s stock valued at $88,000 after purchasing an additional 5,450 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Trading Up 0.5%

Shares of IE stock opened at $16.14 on Wednesday. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $17.90. The firm has a market cap of $2.34 billion, a PE ratio of -39.36 and a beta of 1.00. The company has a 50-day moving average of $14.21 and a two-hundred day moving average of $11.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.41 and a quick ratio of 1.41.

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.