As reported before the open, Scotiabank analyst Orest Wowkodaw initiated coverage of Ivanhoe Electric with an Outperform rating and $14 price target. He believes shares of the exploration and development-stage company primarily focused on critical minerals located in the United States warrant a premium valuation despite the company’s "relatively early-stage development" given Ivanhoe’s "impressive management track record," proprietary "Typhoon" 3D exploration technology, and focus on U.S.-based critical minerals. The potential for "undue weakness" in the shares due to a near-term expiration of initial public offering lock-ups "could represent an attractive entry point," the analyst added.
Published first on TheFly
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