Scotiabank Cuts Ivanhoe Electric (NYSEAMERICAN:IE) Price Target to $13.50

Ivanhoe Electric (NYSEAMERICAN:IE) had its target price cut by Scotiabank from $14.00 to $13.50 in a report released on Monday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

IE has been the subject of a number of other research reports. Jefferies Financial Group lowered their target price on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a report on Thursday, September 26th.

Ivanhoe Electric Stock Performance

IE opened at $6.98 on Monday. The firm has a market capitalization of $840.81 million, a P/E ratio of -4.39 and a beta of 0.66. Ivanhoe Electric has a 12 month low of $6.31 and a 12 month high of $12.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Institutional Investors Weigh In On Ivanhoe Electric

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Ivanhoe Electric by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after buying an additional 1,643 shares during the period. Tidal Investments LLC grew its stake in shares of Ivanhoe Electric by 14.5% in the third quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock valued at $3,098,000 after acquiring an additional 46,345 shares in the last quarter. Barclays PLC increased its position in Ivanhoe Electric by 358.9% during the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after acquiring an additional 106,288 shares during the period. Vestcor Inc raised its stake in Ivanhoe Electric by 11.6% in the 3rd quarter. Vestcor Inc now owns 247,981 shares of the company’s stock worth $2,098,000 after purchasing an additional 25,700 shares in the last quarter. Finally, State Street Corp boosted its holdings in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after purchasing an additional 1,558,467 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Ivanhoe Electric Company Profile

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.