Orion Resource Partners LP cut its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,887,387 shares of the company's stock after selling 62,613 shares during the period. Ivanhoe Electric accounts for about 2.9% of Orion Resource Partners LP's investment portfolio, making the stock its 5th largest position. Orion Resource Partners LP owned approximately 1.57% of Ivanhoe Electric worth $14,250,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 in the last quarter. Kopernik Global Investors LLC raised its holdings in 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 acquiring an additional 130,807 shares during the period. Legal & General Group Plc lifted its position in Ivanhoe Electric by 59.8% during 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in Ivanhoe Electric by 0.8% during 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 last quarter. Finally, Tidal Investments LLC increased its position in Ivanhoe Electric by 14.5% in the 3rd quarter. Tidal Investments LLC now owns 366,222 shares of the company's stock worth $3,098,000 after buying an additional 46,345 shares during the period. Institutional investors own 79.05% of the company's stock.
Ivanhoe Electric Trading Up 2.2 %
Shares of IE stock traded up $0.14 on Wednesday, reaching $6.30. The company had a trading volume of 195,798 shares, compared to its average volume of 754,653. The company has a 50-day moving average of $6.01 and a 200-day moving average of $7.56. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $12.98. The stock has a market cap of $760.25 million, a PE ratio of -3.96 and a beta of 0.74. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.
Insiders Place Their Bets
In related news, VP Graham Richard Thomas Boyd bought 5,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $5.83 per share, for a total transaction of $29,150.00. Following the transaction, the vice president now owns 11,510 shares in the company, valued at $67,103.30. The trade was a 76.80 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Taylor Melvin acquired 50,000 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now directly owns 730,753 shares of the company's stock, valued at $4,209,137.28. The trade was a 7.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 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.
Wall Street Analyst Weigh In
IE has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Raymond James set a $15.00 price objective on Ivanhoe Electric and gave the company an "outperform" rating in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $12.88.
Read Our Latest Report on IE
Ivanhoe Electric Company Profile
(
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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