Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Receives $18.13 Consensus Price Target from Analysts

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) has been given an average rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.1250.

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

Insiders Place Their Bets

In related news, insider Quentin Markin sold 90,000 shares of the firm’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 sale, the insider directly owned 728,493 shares in the company, valued at approximately $11,903,575.62. This trade represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.06% of the company’s stock.

Institutional Trading of Ivanhoe Electric

A number of hedge funds have recently modified their holdings of IE. FNY Investment Advisers LLC acquired a new stake in shares of Ivanhoe Electric in the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC increased its stake in Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after acquiring an additional 3,713 shares during the period. IFP Advisors Inc raised its holdings in Ivanhoe Electric by 138.1% in the 3rd quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock valued at $83,000 after acquiring an additional 3,717 shares in the last quarter. Comerica Bank raised its holdings in Ivanhoe Electric by 352.3% in the 3rd quarter. Comerica Bank now owns 6,997 shares of the company’s stock valued at $88,000 after acquiring an additional 5,450 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after acquiring an additional 2,449 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Up 2.7%

Ivanhoe Electric stock opened at $17.98 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $18.58. The company has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $12.67. The company has a market cap of $2.60 billion, a P/E ratio of -43.85 and a beta of 0.98.

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.