98,372 Shares in Ivanhoe Electric Inc. $IE Bought by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of the State of Kentucky opened a new position in Ivanhoe Electric, buying 98,372 shares valued at about $1.57 million, equal to roughly 0.07% of the company.
• Institutional ownership is high at 79.05%, with major funds increasing stakes—Vanguard now owns 6.58M shares after a 24.4% increase and Primecap boosted holdings by 79.6% to 2.83M shares.
• Company insiders sold a total of 183,912 shares last quarter (about $2.83M), insiders now own 12.06%, and analysts maintain a consensus Buy rating (consensus price target $17.88) while JPMorgan cut its target to $21; the stock trades near $13.14.

Teachers Retirement System of The State of Kentucky bought a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 98,372 shares of the company's stock, valued at approximately $1,572,000. Teachers Retirement System of The State of Kentucky owned about 0.07% of Ivanhoe Electric as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Ivanhoe Electric by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company's stock worth $105,140,000 after acquiring an additional 1,290,175 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Ivanhoe Electric by 79.6% during the third quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company's stock valued at $35,495,000 after buying an additional 1,253,400 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Ivanhoe Electric by 13.6% during the third quarter. Alyeska Investment Group L.P. now owns 2,100,686 shares of the company's stock valued at $26,364,000 after buying an additional 251,361 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Ivanhoe Electric by 0.5% during the third quarter. Legal & General Group Plc now owns 1,769,158 shares of the company's stock valued at $22,203,000 after buying an additional 9,247 shares in the last quarter. Finally, Potrero Capital Research LLC purchased a new position in shares of Ivanhoe Electric during the third quarter valued at $17,381,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cassandra Pulskamp Joseph sold 4,664 shares of Ivanhoe Electric stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.20, for a total transaction of $61,564.80. Following the completion of the sale, the insider owned 46,706 shares of the company's stock, valued at approximately $616,519.20. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Graham Richard Thomas Boyd sold 11,147 shares of Ivanhoe Electric stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $147,140.40. Following the sale, the vice president directly owned 183,079 shares of the company's stock, valued at approximately $2,416,642.80. The trade was a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 183,912 shares of company stock valued at $2,831,321. 12.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price target on Ivanhoe Electric from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.88.

Ivanhoe Electric Trading Down 5.2%

Shares of IE stock opened at $13.14 on Wednesday. Ivanhoe Electric Inc. has a 1-year low of $5.97 and a 1-year high of $21.55. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -16.63 and a beta of 1.20. The stock's fifty day simple moving average is $13.58 and its 200-day simple moving average is $14.91.

Ivanhoe Electric Profile

Ivanhoe Electric NYSEAMERICAN: IE is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company's portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.

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