Skip to main content

J.P. Morgan Sticks to Its Buy Rating for Ivanhoe Electric Inc. (IE)

Tipranks - Wed Jan 21, 10:24AM CST

J.P. Morgan analyst Bill Peterson maintained a Buy rating on Ivanhoe Electric Inc. on January 18 and set a price target of $22.00.

Claim 50% Off TipRanks Premium

Peterson covers the Basic Materials sector, focusing on stocks such as Alcoa, Commercial Metals Company, and Freeport-McMoRan. According to TipRanks, Peterson has an average return of 4.1% and a 51.56% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ivanhoe Electric Inc. with a $19.75 average price target.

Based on Ivanhoe Electric Inc.’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $545 thousand and a GAAP net loss of $17.52 million. In comparison, last year the company earned a revenue of $671 thousand and had a GAAP net loss of $43.24 million

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IE in relation to earlier this year. Last month, Quentin Markin, the Executive Vice-President, Business Development and Strategy Execution of IE sold 90,000.00 shares for a total of $1,470,600.00.

This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
This section contains press releases and other materials from third parties (including paid content). The Globe and Mail has not reviewed this content. Please see disclaimer.