Goehring & Rozencwajg Associates LLC Acquires 37,719 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,713,186 shares of the company's stock after purchasing an additional 37,719 shares during the quarter. Ivanhoe Electric comprises approximately 2.0% of Goehring & Rozencwajg Associates LLC's holdings, making the stock its 19th largest position. Goehring & Rozencwajg Associates LLC owned about 1.42% of Ivanhoe Electric worth $10,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IE. GAMMA Investing LLC increased its position in shares of Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock valued at $65,000 after purchasing an additional 9,119 shares during the period. Teacher Retirement System of Texas bought a new stake in Ivanhoe Electric in the 1st quarter valued at $67,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ivanhoe Electric in the 4th quarter valued at $80,000. BNP Paribas Financial Markets acquired a new stake in shares of Ivanhoe Electric during the 4th quarter valued at about $89,000. Finally, Eagle Global Advisors LLC acquired a new position in Ivanhoe Electric in the fourth quarter worth about $100,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock traded down $0.09 during mid-day trading on Monday, reaching $9.27. The company had a trading volume of 757,599 shares, compared to its average volume of 746,122. The business has a fifty day simple moving average of $7.59 and a 200 day simple moving average of $7.28. The company has a market cap of $1.23 billion, a P/E ratio of -10.91 and a beta of 0.88. Ivanhoe Electric Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $12.13. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.18.

Analysts Set New Price Targets

Several research analysts recently issued reports on IE shares. JPMorgan Chase & Co. upped their price target on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Raymond James Financial upgraded shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 price target for the company in a research report on Monday, June 30th. Finally, Scotiabank restated an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $13.25.

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.