Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Sold by PDT Partners LLC

PDT Partners LLC reduced its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 43.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,722 shares of the company's stock after selling 57,854 shares during the period. PDT Partners LLC owned about 0.06% of Ivanhoe Electric worth $564,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ivanhoe Electric in the fourth quarter worth $80,000. KLP Kapitalforvaltning AS bought a new stake in Ivanhoe Electric during the 4th quarter worth approximately $103,000. Dimensional Fund Advisors LP bought a new position in Ivanhoe Electric in the 4th quarter valued at $146,000. Arizona State Retirement System purchased a new position in shares of Ivanhoe Electric during the 4th quarter valued at $171,000. Finally, Bank of Montreal Can increased its holdings in shares of Ivanhoe Electric by 22.4% in the fourth quarter. Bank of Montreal Can now owns 33,743 shares of the company's stock worth $255,000 after purchasing an additional 6,177 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Stock Performance

Shares of IE stock traded up $0.16 on Wednesday, hitting $6.32. The company had a trading volume of 155,887 shares, compared to its average volume of 754,573. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a twelve month low of $4.50 and a twelve month high of $12.98. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $7.56. The firm has a market cap of $762.90 million, a P/E ratio of -4.00 and a beta of 0.74.

Insider Buying and Selling

In other news, CFO Jordan Neeser bought 20,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $5.86 per share, with a total value of $117,200.00. Following the completion of the transaction, the chief financial officer now directly owns 40,000 shares in the company, valued at $234,400. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Taylor Melvin bought 50,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $288,000.00. Following the acquisition, 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. In the last three months, insiders have bought 75,000 shares of company stock worth $434,350. Insiders own 10.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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. dropped their target price 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. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $12.88.

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.