Legal & General Group Plc increased its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 59.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,323,372 shares of the company's stock after buying an additional 495,325 shares during the quarter. Legal & General Group Plc owned about 1.10% of Ivanhoe Electric worth $9,991,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company's stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the last quarter. Barclays PLC lifted its holdings in Ivanhoe Electric by 358.9% during the third quarter. Barclays PLC now owns 135,903 shares of the company's stock worth $1,150,000 after acquiring an additional 106,288 shares during the period. Tidal Investments LLC boosted its position in Ivanhoe Electric by 14.5% in the third quarter. Tidal Investments LLC now owns 366,222 shares of the company's stock worth $3,098,000 after purchasing an additional 46,345 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Ivanhoe Electric by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company's stock valued at $566,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Euro Pacific Asset Management LLC raised its stake in shares of Ivanhoe Electric by 15.5% during the 4th quarter. Euro Pacific Asset Management LLC now owns 191,180 shares of the company's stock worth $1,456,000 after purchasing an additional 25,708 shares during the period. Institutional investors own 79.05% of the company's stock.
Ivanhoe Electric Stock Performance
Ivanhoe Electric stock traded up $0.27 during trading on Wednesday, reaching $6.43. The company had a trading volume of 114,459 shares, compared to its average volume of 837,487. The firm's 50-day simple moving average is $5.97 and its 200 day simple moving average is $7.67. The firm has a market capitalization of $776.55 million, a price-to-earnings ratio of -4.04 and a beta of 0.74. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $12.98. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.
Analyst Ratings Changes
A number of research firms have weighed in on IE. Raymond James set a $15.00 target price on Ivanhoe Electric and gave the company an "outperform" rating in a report on Friday, April 4th. JPMorgan Chase & Co. dropped their price target on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Scotiabank cut their price target on shares of Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group lowered their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $12.88.
Check Out Our Latest Stock Report on Ivanhoe Electric
Insider Buying and Selling at Ivanhoe Electric
In other Ivanhoe Electric news, CEO Joseph Taylor Melvin bought 50,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the completion of the transaction, the chief executive officer now directly owns 730,753 shares of the company's stock, valued at approximately $4,209,137.28. This represents a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Graham Richard Thomas Boyd bought 5,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $5.83 per share, with a total value of $29,150.00. Following the completion of the purchase, the vice president now directly owns 11,510 shares of the company's stock, valued at approximately $67,103.30. This trade represents a 76.80 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 75,000 shares of company stock valued at $434,350 in the last three months. 10.50% of the stock is currently owned by corporate insiders.
Ivanhoe Electric Profile
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Free Report)
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.
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