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

Ivanhoe Electric (NYSEAMERICAN:IE) had its price objective dropped by stock analysts at Scotiabank from $14.00 to $13.50 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 84.68% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price objective on 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 traded down $0.68 during midday trading on Monday, hitting $7.31. The stock had a trading volume of 411,096 shares, compared to its average volume of 315,066. The firm has a market capitalization of $880.56 million, a P/E ratio of -4.60 and a beta of 0.66. Ivanhoe Electric has a 1-year low of $6.31 and a 1-year 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.

Institutional Trading of Ivanhoe Electric

Several institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC acquired a new stake in shares of Ivanhoe Electric during the third quarter worth $32,000. nVerses Capital LLC acquired a new stake in shares of Ivanhoe Electric during the third quarter worth $33,000. Principal Financial Group Inc. acquired a new stake in shares of Ivanhoe Electric during the second quarter worth $106,000. Creative Planning raised its position in shares of Ivanhoe Electric by 33.9% during the third quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after purchasing an additional 4,644 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Ivanhoe Electric during the third quarter worth $162,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.