Jefferies Financial Group Cuts Ivanhoe Electric (NYSEAMERICAN:IE) Price Target to $10.00

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

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

Ivanhoe Electric Trading Down 2.9 %

IE opened at $6.98 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market capitalization of $840.81 million, a PE ratio of -4.39 and a beta of 0.66. Ivanhoe Electric has a 12-month low of $6.31 and a 12-month high of $12.98.

Institutional Trading of Ivanhoe Electric

Several hedge funds have recently added to or reduced their stakes in IE. Bank of New York Mellon Corp lifted its position in Ivanhoe Electric by 51.2% in the second quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock valued at $2,746,000 after purchasing an additional 99,106 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Ivanhoe Electric in the second quarter worth $106,000. Rhumbline Advisers raised its holdings in Ivanhoe Electric by 34.8% during the 2nd quarter. Rhumbline Advisers now owns 104,179 shares of the company’s stock valued at $977,000 after buying an additional 26,909 shares during the last quarter. Old West Investment Management LLC boosted its position in Ivanhoe Electric by 2.2% during the 2nd quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock valued at $1,495,000 after buying an additional 3,369 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Ivanhoe Electric by 13.9% in the 2nd 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. 79.05% of the stock is 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.