Scotiabank lowered the firm’s price target on Ivanhoe Electric (IE) to $12 from $13.50 and keeps an Outperform rating on the shares. The firm is revisiting its price targets on companies in the Metals & Mining sector during this period of uncertainty, the analyst tells investors. The firm has reduced its near-term commodity price expectations and compressed its equity multiples for most miners. Additionally, while valuations appear attractive, further downside risks are very possible, Scotiabank adds. The firm recommends Ivanhoe Electric among royalties and developers.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IE:
- Ivanhoe Electric price target lowered to $15 from $18 at Raymond James
- Ivanhoe Electric’s Strategic Focus on Copper Exploration
- Ivanhoe Electric Supports Executive Order to Boost U.S. Mineral Production
- Ivanhoe Electric Raises $69 Million in Successful Public Offering
- Ivanhoe Electric 10.26M share Spot Secondary priced at $5.85
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue