JPMorgan Chase & Co. Has Lowered Expectations for Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price

Ivanhoe Electric (NYSEAMERICAN:IE) had its price target decreased by analysts at JPMorgan Chase & Co. from $17.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 138.45% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Scotiabank dropped their price objective 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. Jefferies Financial Group lowered their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Stock Down 2.6 %

NYSEAMERICAN IE opened at $6.71 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric has a 52 week low of $6.31 and a 52 week high of $12.98. The firm has a market cap of $808.29 million, a price-to-earnings ratio of -4.22 and a beta of 0.78.

Institutional Trading of Ivanhoe Electric

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Ivanhoe Electric by 34.8% in the 2nd quarter. Rhumbline Advisers now owns 104,179 shares of the company’s stock worth $977,000 after purchasing an additional 26,909 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in shares of Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after acquiring an additional 199,400 shares during the last quarter. Mak Capital One LLC increased its holdings in shares of Ivanhoe Electric by 21.6% during the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after acquiring an additional 316,903 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $431,000. Finally, Creative Planning boosted its stake in 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 in the last quarter. 79.05% of the stock is currently owned by institutional investors.

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.