Jefferies Financial Group Issues Pessimistic Forecast for Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price

Ivanhoe Electric (NYSEAMERICAN:IE) had its target price dropped by investment analysts at Jefferies Financial Group from $15.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 25.16% from the company’s current price.

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

Ivanhoe Electric Price Performance

Shares of Ivanhoe Electric stock opened at $7.99 on Monday. Ivanhoe Electric has a 12 month low of $6.31 and a 12 month high of $12.98. The firm has a market cap of $962.48 million, a price-to-earnings ratio of -5.03 and a beta of 0.66. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On Ivanhoe Electric

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Ivanhoe Electric by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company’s stock valued at $1,086,000 after acquiring an additional 1,165 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after purchasing an additional 1,643 shares in the last quarter. Old West Investment Management LLC raised its stake in shares of Ivanhoe Electric by 2.2% in the second quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock worth $1,495,000 after purchasing an additional 3,369 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Ivanhoe Electric during the third quarter valued at $32,000. Finally, nVerses Capital LLC purchased a new stake in shares of Ivanhoe Electric during the third quarter valued at $33,000. 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.