Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 705,716 shares of the company's stock after acquiring an additional 48,332 shares during the quarter. Jennison Associates LLC owned 0.58% of Ivanhoe Electric worth $4,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IE. Goehring & Rozencwajg Associates LLC boosted its holdings in Ivanhoe Electric by 2.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,713,186 shares of the company's stock worth $10,844,000 after buying an additional 37,719 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Ivanhoe Electric during the first quarter worth $67,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Ivanhoe Electric by 231.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 53,800 shares of the company's stock valued at $313,000 after purchasing an additional 37,570 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in Ivanhoe Electric by 19.0% during the first quarter. FNY Investment Advisers LLC now owns 25,000 shares of the company's stock valued at $145,000 after purchasing an additional 4,000 shares in the last quarter. Finally, LexAurum Advisors LLC lifted its holdings in Ivanhoe Electric by 26.4% during the first quarter. LexAurum Advisors LLC now owns 91,750 shares of the company's stock valued at $533,000 after purchasing an additional 19,150 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities 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 price target on the stock in a research note on Monday, June 30th. JPMorgan Chase & Co. raised their price target on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Finally, Scotiabank reissued an "outperform" rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $13.25.

Ivanhoe Electric Stock Up 0.9%

Shares of NYSEAMERICAN:IE opened at $11.32 on Monday. The company has a market capitalization of $1.50 billion, a PE ratio of -13.32 and a beta of 0.88. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.18. Ivanhoe Electric Inc. has a twelve month low of $4.50 and a twelve month high of $11.69. The firm has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $7.22.

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.

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