Adage Capital Partners GP L.L.C. Increases Stock Holdings in Ivanhoe Electric Inc. $IE

Adage Capital Partners GP L.L.C. increased its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 845,978 shares of the company's stock after purchasing an additional 73,088 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.70% of Ivanhoe Electric worth $4,915,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Eagle Global Advisors LLC boosted its holdings in Ivanhoe Electric by 19.7% during the 1st quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company's stock valued at $92,000 after acquiring an additional 2,600 shares during the period. FNY Investment Advisers LLC increased its position in Ivanhoe Electric by 19.0% during the 1st quarter. FNY Investment Advisers LLC now owns 25,000 shares of the company's stock valued at $145,000 after buying an additional 4,000 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Ivanhoe Electric by 6.5% in the 4th quarter. California State Teachers Retirement System now owns 73,530 shares of the company's stock worth $555,000 after purchasing an additional 4,462 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Ivanhoe Electric by 5.4% in the 1st quarter. Rhumbline Advisers now owns 112,663 shares of the company's stock worth $655,000 after purchasing an additional 5,740 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Ivanhoe Electric by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 23,541 shares of the company's stock worth $178,000 after buying an additional 7,746 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Stock Performance

IE traded down $0.17 during trading hours on Friday, hitting $8.66. The stock had a trading volume of 182,149 shares, compared to its average volume of 946,449. Ivanhoe Electric Inc. has a 1 year low of $4.50 and a 1 year high of $13.25. The company's fifty day simple moving average is $9.82 and its 200 day simple moving average is $7.79. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.15 billion, a PE ratio of -13.55 and a beta of 0.88.

Insider Buying and Selling at Ivanhoe Electric

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $8.92, for a total value of $1,195,806.28. Following the transaction, the vice president directly owned 194,226 shares of the company's stock, valued at $1,732,495.92. The trade was a 40.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.06% of the company's stock.

Analysts Set New Price Targets

IE has been the topic of several analyst reports. National Bankshares began coverage on Ivanhoe Electric in a research report on Wednesday, September 3rd. They set an "outperform" rating on the stock. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price target for the company in a report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Finally, Cantor Fitzgerald assumed coverage on shares of Ivanhoe Electric in a research note on Thursday, August 21st. They issued an "overweight" rating and a $17.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $14.00.

Ivanhoe Electric Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.