The price of Ivanhoe Electric Inc. (AMEX:IE) shares last traded on Wall Street rose 0.73% to $13.71.
Based on available information, 4 analysts follow Ivanhoe Electric Inc. (AMEX:IE). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $16.50 and a low of $15.00, we find $15.00. Given the previous closing price of $13.61, this indicates a potential upside of 10.21 percent. IE stock price is now 14.96% away from the 50-day moving average and 35.52% away from the 200-day moving average. The market capitalization of the company currently stands at $1.28B.
Among analysts, 0 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $15.50 as their price target over the next twelve months.
With the price target of $14, Scotiabank recently initiated with Sector Perform rating for Ivanhoe Electric Inc. (AMEX: IE). On September 28, 2022, Raymond James recently initiated its ‘Outperform’ rating on the stock quoting a target price of $12, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, FRIEDLAND ROBERT M, Executive Chairman bought 422,767 shares of the company’s stock on Nov 29. The stock was bought for $4,164,255 at an average price of $9.85. Upon completion of the transaction, the Executive Chairman now directly owns 9,385,324 shares in the company, valued at $128.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 20, 10% Owner I-Pulse Inc. sold 416,666 shares of the business’s stock. A total of $3,333,328 was realized by selling the stock at an average price of $8.00. This leaves the insider owning 9,755,495 shares of the company worth $133.75 million. Insiders disposed of 4,242,586 shares of company stock worth roughly $58.17 million over the past 1 year. A total of 21.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IE stock. A new stake in Ivanhoe Electric Inc. shares was purchased by KOPERNIK GLOBAL INVESTORS, LLC during the first quarter worth $15,249,000. ONTARIO TEACHERS PENSION PLAN BOARD invested $13,155,000 in shares of IE during the first quarter. In the first quarter, ETF MANAGERS GROUP, LLC acquired a new stake in Ivanhoe Electric Inc. valued at approximately $6,372,000. PENTWATER CAPITAL MANAGEMENT LP acquired a new stake in IE for approximately $5,712,000. RUSSELL INVESTMENTS GROUP, LTD. purchased a new stake in IE valued at around $3,122,000 in the second quarter. In total, there are 54 active investors with 35.80% ownership of the company’s stock.
A candlestick chart of Ivanhoe Electric Inc. (AMEX: IE) showed a price of $13.69 on Monday morning. During the past 12 months, Ivanhoe Electric Inc. has had a low of $7.01 and a high of $15.53. As of last week, the company has a debt-to-equity ratio of 0.10, a current ratio of 9.50, and a quick ratio of 9.20. The fifty day moving average price for IE is $11.93 and a two-hundred day moving average price translates $10.12 for the stock.
The latest earnings results from Ivanhoe Electric Inc. (AMEX: IE) was released for Jun, 2022. The company reported revenue of $1.18 million for the quarter, compared to $1.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.01 percent.
Ivanhoe Electric Inc.(IE) Company Profile
Ivanhoe Electric Inc. operates as a mineral exploration and development company in the United States. It operates through Critical Metals, Technology, and Energy Storage. The company holds 84.6% interests in the Tintic copper-gold project covering an area of 65 square kilometers located in Utah. It also holds an option to acquire a 100% interest in the Santa Cruz copper project covering an area of 77.59 square kilometers located in Arizona; 75% interest in the Hog Heaven silver-gold-copper project covering an area of 24.2 square kilometers located in Montana; and 60% interest in the Ivory Coast project covering an area of 1,125 square kilometers located in the Ivory Coast. The company also provides data analytics, geophysical modelling, and artificial intelligence services for the mineral, oil and gas, and water exploration industries; and develops, manufactures, and installs vanadium flow batteries for grid-scale energy storage. Ivanhoe Electric Inc. was incorporated in 2020 and is based in Vancouver, Canada.