Ivanhoe Electric (NYSEAMERICAN:IE) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Ivanhoe Electric (NYSEAMERICAN:IE) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $17.00 price target on the stock.

A number of other research firms also recently issued reports on IE. Raymond James Financial upgraded shares of Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price target for the company in a research report on Monday, June 30th. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $14.00.

Ivanhoe Electric Price Performance

IE stock opened at $9.25 on Thursday. The firm has a 50 day moving average of $9.79 and a 200-day moving average of $7.50. Ivanhoe Electric has a 12-month low of $4.50 and a 12-month high of $13.25. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -14.45 and a beta of 0.88.

Hedge Funds Weigh In On Ivanhoe Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IE. Tower Research Capital LLC TRC boosted its position in Ivanhoe Electric by 146.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after buying an additional 3,713 shares during the last quarter. GAMMA Investing LLC boosted its position in Ivanhoe Electric by 456.9% in the 1st quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock valued at $65,000 after buying an additional 9,119 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Ivanhoe Electric in the 1st quarter valued at about $67,000. BNP Paribas Financial Markets lifted its position in shares of Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after purchasing an additional 2,449 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in shares of Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock worth $85,000 after purchasing an additional 8,381 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.