The stock of Ivanhoe Electric Inc. (AMEX:IE) last traded at $11.74, down -8.64% from the previous session.
Data from the available sources indicates that Ivanhoe Electric Inc. (AMEX:IE) is covered by 4 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $19.00 and a low of $16.00, we find $17.00. Given the previous closing price of $12.85, this indicates a potential upside of 32.3 percent. IE stock price is now -15.26% away from the 50-day moving average and 7.52% away from the 200-day moving average. The market capitalization of the company currently stands at $1.16B.
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In total, 0 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $17.25 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 $110.18 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 $114.53 million. Insiders disposed of 4,242,586 shares of company stock worth roughly $49.81 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 ORION RESOURCE PARTNERS (USA) LP during the first quarter worth $87,193,000. ETF MANAGERS GROUP, LLC invested $5,456,000 in shares of IE during the first quarter. In the first quarter, FORTRESS INVESTMENT GROUP LLC acquired a new stake in Ivanhoe Electric Inc. valued at approximately $4,963,000. GOEHRING & ROZENCWAJG ASSOCIATES, LLC acquired a new stake in IE for approximately $2,739,000. NORGES BANK purchased a new stake in IE valued at around $2,228,000 in the second quarter. In total, there are 98 active investors with 35.80% ownership of the company’s stock.
With an opening price of $12.05 on Wednesday morning, Ivanhoe Electric Inc. (AMEX: IE) set off the trading day. During the past 12 months, Ivanhoe Electric Inc. has had a low of $7.01 and a high of $16.55. 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 $13.85 and a two-hundred day moving average price translates $10.92 for the stock.
The latest earnings results from Ivanhoe Electric Inc. (AMEX: IE) was released for Sep, 2022.
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. Ivanhoe Electric Inc. operates as a subsidiary of I-Pulse Inc.
