PDT Partners LLC Acquires 42,622 Shares of Ivanhoe Electric Inc. $IE

Key Points

• PDT Partners LLC increased its holdings in Ivanhoe Electric Inc. by 57.0% in the 1st quarter, now owning approximately 0.10% of the company, valued at $682,000.
• Several large investors, including GAMMA Investing and Teacher Retirement System of Texas, also boosted their positions or initiated new investments in Ivanhoe Electric during the recent quarters.
• Equity analysts have given Ivanhoe Electric strong ratings, with target prices ranging from $15.00 to $17.00, reflecting a positive outlook for the company.

PDT Partners LLC boosted its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 57.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,344 shares of the company's stock after acquiring an additional 42,622 shares during the period. PDT Partners LLC owned 0.10% of Ivanhoe Electric worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Ivanhoe Electric by 41.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,831,620 shares of the company's stock valued at $39,692,000 after purchasing an additional 1,988,562 shares during the last quarter. Vanguard Group Inc. raised its stake in Ivanhoe Electric by 10.7% in the 1st quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company's stock worth $29,851,000 after acquiring an additional 496,058 shares during the last quarter. Vestcor Inc grew its position in shares of Ivanhoe Electric by 191.5% during the 1st quarter. Vestcor Inc now owns 722,781 shares of the company's stock valued at $4,199,000 after acquiring an additional 474,800 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ivanhoe Electric by 78.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company's stock valued at $6,995,000 after acquiring an additional 402,879 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Ivanhoe Electric during the first quarter worth $1,032,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $8.92, for a total transaction of $1,195,806.28. Following the transaction, the vice president directly owned 194,226 shares in the company, valued at approximately $1,732,495.92. This trade represents a 40.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.06% of the company's stock.

Ivanhoe Electric Trading Down 0.6%

Shares of IE traded down $0.05 during midday trading on Monday, reaching $8.87. The company had a trading volume of 765,048 shares, compared to its average volume of 946,455. The firm has a 50 day simple moving average of $9.84 and a 200-day simple moving average of $7.72. Ivanhoe Electric Inc. has a 1-year low of $4.50 and a 1-year high of $13.25. The stock has a market cap of $1.18 billion, a PE ratio of -13.86 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IE shares. Raymond James Financial raised shares of 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. National Bankshares started coverage on shares of Ivanhoe Electric in a report on Wednesday. They issued an "outperform" rating for the company. Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. National Bank Financial upgraded Ivanhoe Electric to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $14.00.

Ivanhoe Electric Company 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.