Ivanhoe Electric (NYSEAMERICAN:IE) Trading Up 7% – Should You Buy?

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) traded up 7% on Thursday . The company traded as high as $8.18 and last traded at $8.08. 90,135 shares changed hands during trading, a decline of 86% from the average session volume of 649,134 shares. The stock had previously closed at $7.55.

Analysts Set New Price Targets

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

Ivanhoe Electric Price Performance

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $976.93 million, a P/E ratio of -5.10 and a beta of 0.66.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently modified their holdings of IE. Avior Wealth Management LLC acquired a new stake in shares of Ivanhoe Electric during the 3rd quarter worth about $32,000. nVerses Capital LLC acquired a new stake in shares of Ivanhoe Electric during the third quarter worth approximately $33,000. Principal Financial Group Inc. acquired a new position in shares of Ivanhoe Electric in the 2nd quarter worth approximately $106,000. Creative Planning grew its position in Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after acquiring an additional 4,644 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Ivanhoe Electric during the 3rd quarter valued at $162,000. 79.05% of the stock is currently owned by institutional investors.

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.