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

Ivanhoe Electric (NYSEAMERICAN:IE) had its target price dropped by analysts at Scotiabank from $14.00 to $13.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 87.76% from the company’s previous close.

Several other research analysts also recently commented on the company. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday.

Ivanhoe Electric Trading Down 1.5 %

Shares of NYSEAMERICAN:IE opened at $7.19 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. 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 $866.11 million, a PE ratio of -4.52 and a beta of 0.66.

Hedge Funds Weigh In On Ivanhoe Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its position in Ivanhoe Electric by 358.9% in the 3rd quarter. Barclays PLC now owns 135,903 shares of the company’s stock valued at $1,150,000 after buying an additional 106,288 shares in the last quarter. State Street Corp increased its holdings in shares of Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after acquiring an additional 1,558,467 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Ivanhoe Electric by 13.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after purchasing an additional 199,400 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Ivanhoe Electric in the 3rd quarter valued at $162,000. Finally, SG Americas Securities LLC bought a new stake in Ivanhoe Electric during the 3rd quarter valued at $431,000. Institutional investors 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.