Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Stake Boosted by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,843,058 shares of the company's stock after purchasing an additional 589,456 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 4.02% of Ivanhoe Electric worth $36,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in IE. MetLife Investment Management LLC boosted its stake in Ivanhoe Electric by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 51,922 shares of the company's stock worth $392,000 after purchasing an additional 2,948 shares during the period. Natixis acquired a new stake in shares of Ivanhoe Electric during the fourth quarter worth about $420,000. Dimensional Fund Advisors LP acquired a new position in Ivanhoe Electric in the 4th quarter valued at about $146,000. Barclays PLC increased its position in Ivanhoe Electric by 9.6% in the 4th quarter. Barclays PLC now owns 148,939 shares of the company's stock valued at $1,125,000 after acquiring an additional 13,036 shares during the period. Finally, Kopernik Global Investors LLC raised its stake in Ivanhoe Electric by 5.4% during the 4th quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company's stock valued at $19,307,000 after acquiring an additional 130,807 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IE. JPMorgan Chase & Co. reduced their target price on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Raymond James set a $15.00 target price on shares of Ivanhoe Electric and gave the company an "outperform" rating in a report on Friday, April 4th. Jefferies Financial Group lowered their price target on Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Scotiabank dropped their price objective on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a report on Monday, January 6th. 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 stock. Based on data from MarketBeat.com, Ivanhoe Electric has an average rating of "Buy" and an average price target of $12.88.

Insider Buying and Selling at Ivanhoe Electric

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin purchased 50,000 shares of Ivanhoe Electric stock in a transaction on Friday, March 7th. The stock was bought at an average price 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 $4,209,137.28. The trade was a 7.34 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jordan Neeser bought 20,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $5.86 per share, for a total transaction of $117,200.00. Following the purchase, the chief financial officer now owns 40,000 shares in the company, valued at $234,400. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 75,000 shares of company stock worth $434,350 over the last ninety days. Company insiders own 10.50% of the company's stock.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN IE traded up $0.17 during trading on Friday, reaching $6.33. The stock had a trading volume of 560,937 shares, compared to its average volume of 756,829. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market cap of $764.47 million, a PE ratio of -3.98 and a beta of 0.74. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $12.98. The firm's 50 day moving average price is $6.02 and its two-hundred day moving average price is $7.58.

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.