Ivanhoe Electric (NYSEAMERICAN:IE) Price Target Cut to $10.00 by Analysts at Jefferies Financial Group

Ivanhoe Electric (NYSEAMERICAN:IE) had its price objective lowered by Jefferies Financial Group from $15.00 to $10.00 in a research report released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

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

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock opened at $6.98 on Monday. Ivanhoe Electric has a 52 week low of $6.31 and a 52 week high of $12.98. The company has a market cap of $840.81 million, a P/E ratio of -4.39 and a beta of 0.66. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On Ivanhoe Electric

A number of institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC purchased a new stake in shares of Ivanhoe Electric in the 3rd quarter worth approximately $32,000. nVerses Capital LLC purchased a new stake in shares of Ivanhoe Electric in the third quarter worth $33,000. Principal Financial Group Inc. bought a new position in shares of Ivanhoe Electric during the second quarter valued at $106,000. Creative Planning raised its position in shares of Ivanhoe Electric by 33.9% in the 3rd 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 last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Ivanhoe Electric in the 3rd quarter worth about $162,000. 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.