Bank of America Corp DE Has $913,000 Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Bank of America Corp DE cut its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 50.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,961 shares of the company's stock after selling 122,669 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Ivanhoe Electric worth $913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ivanhoe Electric in the fourth quarter valued at approximately $80,000. BNP Paribas Financial Markets acquired a new position in Ivanhoe Electric during the fourth quarter valued at approximately $89,000. KLP Kapitalforvaltning AS acquired a new position in Ivanhoe Electric during the fourth quarter valued at approximately $103,000. Ameriprise Financial Inc. acquired a new position in Ivanhoe Electric during the fourth quarter valued at approximately $104,000. Finally, Dimensional Fund Advisors LP acquired a new position in Ivanhoe Electric during the fourth quarter valued at approximately $146,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Ivanhoe Electric Stock Performance

Shares of IE traded up $0.08 during mid-day trading on Wednesday, hitting $8.19. The company's stock had a trading volume of 536,034 shares, compared to its average volume of 759,390. The firm has a market capitalization of $989.11 million, a PE ratio of -5.15 and a beta of 0.74. The stock's 50-day moving average is $6.59 and its two-hundred day moving average is $7.45. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $12.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Analyst Ratings Changes

IE has been the subject of a number of research analyst reports. Raymond James set a $15.00 price target on shares of Ivanhoe Electric and gave the stock an "outperform" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. reduced their price objective on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $12.88.

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.