Ivanhoe Electric (NYSEAMERICAN:IE) Trading Up 6.7% – Here’s What Happened

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) shares were up 6.7% during mid-day trading on Friday . The company traded as high as $6.13 and last traded at $6.22. Approximately 384,834 shares were traded during trading, a decline of 42% from the average daily volume of 666,213 shares. The stock had previously closed at $5.83.

Analyst Ratings Changes

A number of analysts have recently issued reports on IE shares. JPMorgan Chase & Co. lowered their target price on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group lowered their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Scotiabank lowered their target price on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research note on Monday, January 6th.

Ivanhoe Electric Price Performance

The stock has a market cap of $749.98 million, a P/E ratio of -3.91 and a beta of 0.74. 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

Hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its position in shares of Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after buying an additional 4,644 shares in the last quarter. Old West Investment Management LLC lifted its position in shares of Ivanhoe Electric by 62.9% during the 3rd quarter. Old West Investment Management LLC now owns 259,597 shares of the company’s stock valued at $2,196,000 after buying an additional 100,265 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $174,000. Euro Pacific Asset Management LLC lifted its position in shares of Ivanhoe Electric by 26.1% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 165,472 shares of the company’s stock valued at $1,411,000 after buying an additional 34,246 shares in the last quarter. Finally, Avior Wealth Management LLC purchased a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.