Jefferies Financial Group Cuts Ivanhoe Electric (NYSEAMERICAN:IE) Price Target to $10.00

Ivanhoe Electric (NYSEAMERICAN:IE) had its price objective cut by Jefferies Financial Group from $15.00 to $10.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN IE opened at $7.30 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. Ivanhoe Electric has a 52-week low of $6.31 and a 52-week high of $12.98. The firm has a market cap of $879.36 million, a price-to-earnings ratio of -4.59 and a beta of 0.66.

Institutional Trading of Ivanhoe Electric

A number of hedge funds and other institutional investors have recently modified their holdings of IE. Bank of New York Mellon Corp boosted its holdings in Ivanhoe Electric by 51.2% in the second quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock valued at $2,746,000 after acquiring an additional 99,106 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Ivanhoe Electric during the 2nd quarter valued at about $106,000. Rhumbline Advisers boosted its stake in shares of Ivanhoe Electric by 34.8% in the 2nd quarter. Rhumbline Advisers now owns 104,179 shares of the company’s stock valued at $977,000 after purchasing an additional 26,909 shares during the last quarter. Old West Investment Management LLC grew its position in shares of Ivanhoe Electric by 2.2% during the 2nd quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock worth $1,495,000 after buying an additional 3,369 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after buying an additional 199,400 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.