UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 54,771 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,513 shares of the company's stock after acquiring an additional 54,771 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Ivanhoe Electric worth $1,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Ivanhoe Electric by 13.9% during 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 acquiring an additional 589,456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ivanhoe Electric by 78.3% during 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 buying an additional 402,879 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Ivanhoe Electric during the fourth quarter valued at about $451,000. Kopernik Global Investors LLC raised its position in shares of Ivanhoe Electric by 5.4% during the fourth quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company's stock valued at $19,307,000 after buying an additional 130,807 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Ivanhoe Electric by 59.8% during the fourth quarter. Legal & General Group Plc now owns 1,323,372 shares of the company's stock valued at $9,991,000 after buying an additional 495,325 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Ivanhoe Electric Price Performance

Shares of IE traded up $0.08 during mid-day trading on Wednesday, hitting $8.19. 536,034 shares of the company traded hands, compared to its average volume of 759,387. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $12.13. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average of $6.59 and a 200 day moving average of $7.45. The stock has a market capitalization of $989.11 million, a price-to-earnings ratio of -5.15 and a beta of 0.74.

Analyst Ratings Changes

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

Ivanhoe Electric 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.