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

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) have been given a consensus rating of “Buy” by the seven brokerages that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.70.

Several brokerages recently weighed in on IE. National Bankshares started coverage on shares of Ivanhoe Electric in a report on Wednesday, September 3rd. They issued an “outperform” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, October 28th. Cantor Fitzgerald started coverage on Ivanhoe Electric in a research report on Thursday, August 21st. They set an “overweight” rating and a $17.00 target price on the stock. Raymond James Financial boosted 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. 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 research report on Thursday, October 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in Ivanhoe Electric by 146.0% during the second 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 during the last quarter. BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 2,449 shares during the period. AlphaQuest LLC raised its position in shares of Ivanhoe Electric by 881.3% during the 2nd quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after buying an additional 8,381 shares during the period. Comerica Bank grew its position in Ivanhoe Electric by 352.3% in the third quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after acquiring an additional 5,450 shares during the period. Finally, Eagle Global Advisors LLC increased its stake in Ivanhoe Electric by 19.7% during the first quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company’s stock worth $92,000 after acquiring an additional 2,600 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Ivanhoe Electric Stock Performance

Shares of IE stock opened at $14.31 on Friday. The business has a fifty day moving average of $13.44 and a 200 day moving average of $10.53. 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 firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -34.90 and a beta of 0.99. Ivanhoe Electric has a 1 year low of $4.50 and a 1 year high of $17.90.

About Ivanhoe Electric

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.