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

Ivanhoe Electric (NYSEAMERICAN:IE) had its target price cut by research analysts at Jefferies Financial Group from $15.00 to $10.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 39.08% from the company’s current price.

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

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN IE opened at $7.19 on Monday. The firm has a market capitalization of $866.11 million, a P/E ratio of -4.52 and a beta of 0.66. Ivanhoe Electric has a one year low of $6.31 and a one year high of $12.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC acquired a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $32,000. nVerses Capital LLC acquired a new stake in shares of Ivanhoe Electric in the 3rd quarter valued at $33,000. Principal Financial Group Inc. acquired a new stake in shares of Ivanhoe Electric in the 2nd quarter valued at $106,000. Creative Planning raised its position in shares of Ivanhoe Electric by 33.9% during the third quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after acquiring an additional 4,644 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Ivanhoe Electric during the third quarter valued at $162,000. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Company Profile

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.