Ivanhoe Electric (NYSEAMERICAN:IE) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

Ivanhoe Electric (NYSEAMERICAN:IE) had its price target lowered by JPMorgan Chase & Co. from $17.00 to $16.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on IE. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group lowered their price objective on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Scotiabank reduced their price objective on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a report on Monday, January 6th.

Ivanhoe Electric Stock Up 1.0 %

IE stock opened at $6.89 on Thursday. 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 1-year low of $6.31 and a 1-year high of $12.98.

Institutional Investors Weigh In On Ivanhoe Electric

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Raffles Associates LP increased its position in Ivanhoe Electric by 70.0% in the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after buying an additional 457,479 shares during the last quarter. Mak Capital One LLC raised its stake in shares of Ivanhoe Electric by 21.6% in the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after buying an additional 316,903 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in shares of Ivanhoe Electric by 13.9% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after buying an additional 199,400 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of Ivanhoe Electric during the 3rd quarter worth $1,122,000. 79.05% of the stock is currently owned by institutional investors.

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.