MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 402,879 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 78.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 917,272 shares of the company's stock after buying an additional 402,879 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.76% of Ivanhoe Electric worth $6,995,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Ivanhoe Electric by 13.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,843,058 shares of the company's stock worth $36,566,000 after buying an additional 589,456 shares during the last quarter. Kopernik Global Investors LLC lifted its position in shares of Ivanhoe Electric by 5.4% in the 4th quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company's stock worth $19,307,000 after buying an additional 130,807 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Ivanhoe Electric by 4.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,081,096 shares of the company's stock worth $15,712,000 after acquiring an additional 95,749 shares during the period. Legal & General Group Plc increased its holdings in shares of Ivanhoe Electric by 59.8% in the 4th quarter. Legal & General Group Plc now owns 1,323,372 shares of the company's stock worth $9,991,000 after acquiring an additional 495,325 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ivanhoe Electric by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company's stock worth $5,348,000 after acquiring an additional 5,535 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd bought 5,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $5.83 per share, with a total value of $29,150.00. Following the completion of the transaction, the vice president now directly owns 11,510 shares of the company's stock, valued at approximately $67,103.30. The trade was a 76.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Taylor Melvin purchased 50,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $5.76 per share, for a total transaction of $288,000.00. Following the transaction, the chief executive officer now owns 730,753 shares of the company's stock, valued at approximately $4,209,137.28. This trade represents a 7.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 75,000 shares of company stock valued at $434,350 over the last ninety days. Corporate insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IE shares. Raymond James set a $15.00 price objective on shares of Ivanhoe Electric and gave the stock an "outperform" rating in a report on Friday, April 4th. JPMorgan Chase & Co. lowered their target price on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $12.88.

Ivanhoe Electric Stock Up 3.4%

Ivanhoe Electric stock traded up $0.23 during trading hours on Friday, hitting $6.94. The company had a trading volume of 725,612 shares, compared to its average volume of 765,056. The firm has a market capitalization of $838.14 million, a P/E ratio of -4.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The firm's fifty day moving average is $6.21 and its 200-day moving average is $7.44. Ivanhoe Electric Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $12.14.

About Ivanhoe Electric

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.