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

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

Several other large investors have also recently modified their holdings of IE. Charles Schwab Investment Management Inc. grew its stake in Ivanhoe Electric by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company's stock worth $5,348,000 after buying an additional 5,535 shares during the last quarter. Swiss National Bank boosted its holdings in Ivanhoe Electric by 8.4% in the fourth quarter. Swiss National Bank now owns 153,900 shares of the company's stock worth $1,162,000 after acquiring an additional 11,900 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Ivanhoe Electric by 125.8% during the fourth quarter. Intech Investment Management LLC now owns 43,211 shares of the company's stock worth $326,000 after acquiring an additional 24,074 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Ivanhoe Electric during the fourth quarter worth about $103,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Ivanhoe Electric by 7.8% during the fourth quarter. JPMorgan Chase & Co. now owns 72,196 shares of the company's stock valued at $545,000 after acquiring an additional 5,245 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised 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. Raymond James Financial raised 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 reaffirmed an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $13.25.

Ivanhoe Electric Stock Down 3.2%

IE stock traded down $0.38 during midday trading on Thursday, hitting $11.53. The company's stock had a trading volume of 1,067,347 shares, compared to its average volume of 1,581,494. The firm has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $7.27. The firm has a market capitalization of $1.53 billion, a P/E ratio of -13.56 and a beta of 0.88. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.18. Ivanhoe Electric Inc. has a 52-week low of $4.50 and a 52-week high of $12.05.

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.