Cambridge Investment Research Advisors Inc. raised its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 231.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,800 shares of the company's stock after acquiring an additional 37,570 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Ivanhoe Electric were worth $313,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its position in Ivanhoe Electric by 456.9% during the 1st quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock worth $65,000 after acquiring an additional 9,119 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Ivanhoe Electric during the 4th quarter worth approximately $89,000. Eagle Global Advisors LLC bought a new stake in Ivanhoe Electric during the 4th quarter worth approximately $100,000. KLP Kapitalforvaltning AS bought a new stake in Ivanhoe Electric during the 4th quarter worth approximately $103,000. Finally, Ameriprise Financial Inc. bought a new stake in Ivanhoe Electric during the 4th quarter worth approximately $104,000. 79.05% of the stock is owned by institutional investors and hedge funds.
Ivanhoe Electric Stock Up 12.0%
Shares of IE traded up $1.22 during midday trading on Wednesday, hitting $11.40. The stock had a trading volume of 3,503,893 shares, compared to its average volume of 788,538. The company has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $7.20. Ivanhoe Electric Inc. has a twelve month low of $4.50 and a twelve month high of $12.13. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -13.41 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.07 and a quick ratio of 3.07.
Wall Street Analyst Weigh In
IE has been the topic of a number of recent research reports. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Raymond James Financial raised Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. raised their price objective on Ivanhoe Electric from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ivanhoe Electric presently has an average rating of "Buy" and a consensus price target of $13.25.
Read Our Latest Research Report on IE
About Ivanhoe Electric
(
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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