Ivanhoe Electric (NYSEAMERICAN:IE) Coverage Initiated by Analysts at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald started coverage on shares of Ivanhoe Electric (NYSEAMERICAN:IE) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $17.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 83.78% from the stock’s current price.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Ivanhoe Electric from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Raymond James Financial upgraded Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, Ivanhoe Electric presently has a consensus rating of “Buy” and an average target price of $14.00.

Ivanhoe Electric Stock Performance

NYSEAMERICAN:IE opened at $9.25 on Thursday. The business has a 50 day moving average of $9.79 and a 200 day moving average of $7.50. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -14.45 and a beta of 0.88. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $13.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.84 and a quick ratio of 3.84.

Hedge Funds Weigh In On Ivanhoe Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after acquiring an additional 3,713 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock valued at $65,000 after acquiring an additional 9,119 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Ivanhoe Electric during the first quarter valued at approximately $67,000. BNP Paribas Financial Markets raised its holdings in shares of Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after acquiring an additional 2,449 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after acquiring an additional 8,381 shares in the last quarter. Institutional investors 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.