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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) has received an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings 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 target price among brokerages that have updated their coverage on the stock in the last year is $18.1250.

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

Ivanhoe Electric Trading Down 1.7%

Shares of Ivanhoe Electric stock opened at $17.50 on Friday. Ivanhoe Electric has a fifty-two week low of $4.50 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $2.53 billion, a P/E ratio of -42.68 and a beta of 0.98. The company has a fifty day moving average of $14.94 and a 200 day moving average of $12.53.

Insiders Place Their Bets

In other Ivanhoe Electric news, insider Quentin Markin sold 90,000 shares of Ivanhoe Electric 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 sale, the insider directly owned 728,493 shares in the company, valued at approximately $11,903,575.62. The trade was a 11.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.06% of the company’s stock.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Ivanhoe Electric by 1.5% in 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 in the last quarter. Kopernik Global Investors LLC increased its stake in Ivanhoe Electric by 2.2% in the 2nd quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock worth $30,952,000 after acquiring an additional 72,376 shares during the last quarter. Primecap Management Co. CA raised its holdings 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 worth $35,495,000 after acquiring an additional 1,253,400 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Ivanhoe Electric by 13.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,100,686 shares of the company’s stock worth $26,364,000 after acquiring an additional 251,361 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ivanhoe Electric by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock valued at $18,841,000 after acquiring an additional 125,111 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

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.