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

Ivanhoe Electric (NYSEAMERICAN:IE) had its price objective lowered by Scotiabank from $14.00 to $13.50 in a report released on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 84.68% from the stock’s previous close.

Several other research analysts have also weighed in on IE. Eight Capital raised Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday.

Ivanhoe Electric Stock Down 8.5 %

NYSEAMERICAN:IE traded down $0.68 during trading hours on Monday, hitting $7.31. 411,096 shares of the company’s stock traded hands, compared to its average volume of 315,066. The firm has a market capitalization of $880.56 million, a price-to-earnings ratio of -4.60 and a beta of 0.66. Ivanhoe Electric has a twelve month low of $6.31 and a twelve month 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IE. Avior Wealth Management LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter worth about $32,000. nVerses Capital LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter worth about $33,000. Principal Financial Group Inc. bought a new stake in shares of Ivanhoe Electric during the 2nd quarter worth about $106,000. Creative Planning boosted its stake in 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 purchasing an additional 4,644 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Ivanhoe Electric during the 3rd quarter valued at approximately $162,000. 79.05% of the stock is 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.