Invst LLC bought a new stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 224,036 shares of the company's stock, valued at approximately $1,302,000. Invst LLC owned about 0.19% of Ivanhoe Electric as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC lifted its stake in shares of Ivanhoe Electric by 7.4% during the 1st quarter. Jennison Associates LLC now owns 705,716 shares of the company's stock worth $4,100,000 after acquiring an additional 48,332 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Ivanhoe Electric by 231.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 53,800 shares of the company's stock worth $313,000 after purchasing an additional 37,570 shares during the last quarter. Vestcor Inc boosted its stake in shares of Ivanhoe Electric by 191.5% during the first quarter. Vestcor Inc now owns 722,781 shares of the company's stock valued at $4,199,000 after purchasing an additional 474,800 shares during the period. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Ivanhoe Electric by 2.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,713,186 shares of the company's stock valued at $10,844,000 after purchasing an additional 37,719 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Ivanhoe Electric by 10.7% in the first quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company's stock worth $29,851,000 after purchasing an additional 496,058 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Ivanhoe Electric Price Performance
Shares of NYSEAMERICAN:IE traded down $0.03 during midday trading on Wednesday, reaching $9.08. 380,126 shares of the company's stock traded hands, compared to its average volume of 953,166. The company has a fifty day simple moving average of $9.78 and a two-hundred day simple moving average of $7.87. Ivanhoe Electric Inc. has a 1 year low of $4.50 and a 1 year high of $13.25. The company has a market cap of $1.21 billion, a P/E ratio of -14.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.84 and a current ratio of 3.84.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. National Bankshares initiated coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 3rd. They set an "outperform" rating for the company. JPMorgan Chase & Co. boosted their price target on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Cantor Fitzgerald initiated coverage on Ivanhoe Electric in a report on Thursday, August 21st. They set an "overweight" rating and a $17.00 price objective on the stock. Finally, Raymond James Financial raised Ivanhoe Electric to a "moderate buy" rating and set a $15.00 target price for the company in a research report on Monday, June 30th. Two equities 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 currently has a consensus rating of "Buy" and an average price target of $14.00.
Get Our Latest Research Report on IE
Insider Transactions at Ivanhoe Electric
In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction dated 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 sale, the vice president owned 194,226 shares in the company, valued at $1,732,495.92. This trade represents a 40.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.06% of the stock is currently owned by insiders.
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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