Ivanhoe Electric (NYSEAMERICAN:IE) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Ivanhoe Electric (NYSEAMERICAN:IE) had its price target decreased by JPMorgan Chase & Co. from $21.00 to $20.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Ivanhoe Electric Price Performance

IE opened at $9.05 on Thursday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.17 and a beta of 1.23. The business has a 50 day moving average price of $11.72 and a two-hundred day moving average price of $14.04. Ivanhoe Electric has a 1-year low of $8.44 and a 1-year high of $21.55.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.11). Ivanhoe Electric had a negative net margin of 3,477.73% and a negative return on equity of 29.11%. The business had revenue of $0.86 million during the quarter, compared to analyst estimates of $0.90 million. Equities analysts expect that Ivanhoe Electric will post 0.02 EPS for the current fiscal year.

Institutional Trading of Ivanhoe Electric

A number of hedge funds have recently bought and sold shares of IE. Militia Capital Partners LP bought a new stake in shares of Ivanhoe Electric during the 3rd quarter worth $1,130,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Ivanhoe Electric in the fourth quarter valued at about $1,572,000. SG Americas Securities LLC increased its stake in shares of Ivanhoe Electric by 186.1% in the fourth quarter. SG Americas Securities LLC now owns 150,740 shares of the company’s stock worth $2,409,000 after purchasing an additional 98,052 shares during the period. O Brien Greene & Co. Inc bought a new position in shares of Ivanhoe Electric in the fourth quarter worth about $670,000. Finally, Vanguard Group Inc. boosted its position in shares of Ivanhoe Electric by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock valued at $105,140,000 after acquiring an additional 1,290,175 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.