Cambridge Investment Research Advisors Inc. grew its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 231.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,800 shares of the company's stock after acquiring an additional 37,570 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Ivanhoe Electric were worth $313,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Ivanhoe Electric by 456.9% in the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock worth $65,000 after acquiring an additional 9,119 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric during the fourth quarter worth about $89,000. Eagle Global Advisors LLC bought a new position in shares of Ivanhoe Electric during the fourth quarter worth about $100,000. KLP Kapitalforvaltning AS bought a new position in shares of Ivanhoe Electric during the fourth quarter worth about $103,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Ivanhoe Electric during the fourth quarter worth about $104,000. 79.05% of the stock is currently owned by institutional investors.
Ivanhoe Electric Stock Performance
NYSEAMERICAN:IE traded up $0.14 during mid-day trading on Friday, hitting $10.39. 1,653,676 shares of the stock were exchanged, compared to its average volume of 766,070. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -12.22 and a beta of 0.88. The firm's 50-day simple moving average is $7.93 and its 200 day simple moving average is $7.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.07 and a current ratio of 3.07. Ivanhoe Electric Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $12.13.
Analyst Ratings Changes
IE has been the subject of a number of research reports. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price objective for the company in a report on Monday, June 30th. JPMorgan Chase & Co. raised their price target on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Finally, Scotiabank restated an "outperform" rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ivanhoe Electric has an average rating of "Buy" and an average target price of $13.25.
Read Our Latest Stock Analysis on Ivanhoe Electric
Ivanhoe Electric Profile
(
Free Report)
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.
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