Goldman Sachs Group Inc. Decreases Holdings in Ivanhoe Electric Inc. $IE

Goldman Sachs Group Inc. trimmed its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,675 shares of the company's stock after selling 98,619 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.18% of Ivanhoe Electric worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN:IE opened at $9.50 on Friday. Ivanhoe Electric Inc. has a twelve month low of $4.50 and a twelve month high of $13.25. The stock has a market capitalization of $1.26 billion, a PE ratio of -14.84 and a beta of 0.88. 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 firm's 50 day moving average price is $9.73 and its 200-day moving average price is $7.94.

Insider Transactions at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $8.92, for a total value of $1,195,806.28. Following the completion of the sale, the vice president directly owned 194,226 shares of the company's stock, valued at approximately $1,732,495.92. This represents a 40.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. National Bankshares assumed coverage on Ivanhoe Electric in a research report on Wednesday, September 3rd. They issued an "outperform" rating for the company. Raymond James Financial upgraded shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 target price on the stock in a report on Monday, June 30th. Cantor Fitzgerald began coverage on shares of Ivanhoe Electric in a report on Thursday, August 21st. They set an "overweight" rating and a $17.00 target price on the stock. Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. Finally, National Bank Financial raised shares of Ivanhoe Electric to a "strong-buy" rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, Ivanhoe Electric has an average rating of "Buy" and a consensus price target of $14.00.

About Ivanhoe Electric

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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