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

Ivanhoe Electric (NYSEAMERICAN:IE) had its price objective cut by Scotiabank from $14.00 to $13.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 87.76% from the stock’s current price.

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

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE opened at $7.19 on Monday. Ivanhoe Electric has a 12-month low of $6.31 and a 12-month high of $12.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The company has a market cap of $866.11 million, a PE ratio of -4.52 and a beta of 0.66.

Institutional Trading of Ivanhoe Electric

A number of institutional investors and hedge funds have recently made changes to their positions in IE. Avior Wealth Management LLC acquired a new position in Ivanhoe Electric during the third quarter worth about $32,000. nVerses Capital LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $33,000. Principal Financial Group Inc. bought a new position in Ivanhoe Electric in the 2nd quarter valued at approximately $106,000. Creative Planning lifted its stake in Ivanhoe Electric by 33.9% in the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after purchasing an additional 4,644 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Ivanhoe Electric in the third quarter valued at approximately $162,000. 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.