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

Ivanhoe Electric (NYSEAMERICAN:IE) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $17.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 134.60% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group reduced their price objective on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Scotiabank lowered 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 research report on Monday, January 6th.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE opened at $6.82 on Thursday. 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 firm has a market capitalization of $821.54 million, a P/E ratio of -4.29 and a beta of 0.78.

Hedge Funds Weigh In On Ivanhoe Electric

Several hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC bought a new stake in shares of Ivanhoe Electric in the 3rd quarter worth approximately $32,000. nVerses Capital LLC bought a new position in shares of Ivanhoe Electric in the third quarter valued at $33,000. 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 acquiring an additional 4,644 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter worth $162,000. Finally, Aigen Investment Management LP bought a new stake in shares of Ivanhoe Electric during the 3rd quarter worth $174,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.