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

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

A number of other analysts have also issued reports on IE. Scotiabank reduced their target price on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a report on Monday, January 6th. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group lowered their target price 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.

Ivanhoe Electric Stock Performance

IE stock opened at $6.82 on Thursday. Ivanhoe Electric has a 52-week low of $6.31 and a 52-week high of $12.98. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a market cap of $821.54 million, a PE ratio of -4.29 and a beta of 0.78.

Institutional Trading of Ivanhoe Electric

A number of institutional investors and hedge funds have recently made changes to their positions in IE. JPMorgan Chase & Co. raised its position in shares of Ivanhoe Electric by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock valued at $566,000 after purchasing an additional 1,643 shares during the period. Tidal Investments LLC raised its holdings in Ivanhoe Electric by 14.5% in the 3rd quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock worth $3,098,000 after acquiring an additional 46,345 shares during the period. Barclays PLC lifted its position in Ivanhoe Electric by 358.9% during the 3rd quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after acquiring an additional 106,288 shares during the last quarter. Vestcor Inc boosted its holdings in Ivanhoe Electric by 11.6% during the third quarter. Vestcor Inc now owns 247,981 shares of the company’s stock valued at $2,098,000 after acquiring an additional 25,700 shares during the period. Finally, State Street Corp increased its stake in shares of Ivanhoe Electric by 94.5% in the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Institutional investors and hedge funds 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.