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

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

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. Finally, 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 report on Friday, October 10th.

Ivanhoe Electric Trading Up 3.9%

Shares of Ivanhoe Electric stock opened at $19.86 on Friday. The stock has a market capitalization of $2.87 billion, a P/E ratio of -48.44 and a beta of 0.98. Ivanhoe Electric has a 12-month low of $4.50 and a 12-month high of $20.01. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $15.48 and a 200 day simple moving average of $12.85.

Insiders Place Their Bets

In other Ivanhoe Electric news, insider Quentin Markin sold 90,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,903,575.62. The trade was a 11.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IE. Vanguard Group Inc. raised its stake in shares of Ivanhoe Electric by 1.5% during the third quarter. Vanguard Group Inc. now owns 5,289,271 shares of the company’s stock worth $66,380,000 after buying an additional 80,693 shares during the last quarter. Kopernik Global Investors LLC raised its position in shares of Ivanhoe Electric by 2.2% during the 2nd quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock valued at $30,952,000 after acquiring an additional 72,376 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Ivanhoe Electric by 79.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock valued at $35,495,000 after acquiring an additional 1,253,400 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Ivanhoe Electric by 13.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,100,686 shares of the company’s stock valued at $26,364,000 after purchasing an additional 251,361 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Ivanhoe Electric by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock worth $18,841,000 after purchasing an additional 125,111 shares during the last quarter. 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.