PDT Partners LLC Decreases Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

PDT Partners LLC lowered its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,722 shares of the company's stock after selling 57,854 shares during the quarter. PDT Partners LLC owned approximately 0.06% of Ivanhoe Electric worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $36,566,000 after acquiring an additional 589,456 shares during the period. Legal & General Group Plc grew its holdings in shares of Ivanhoe Electric by 59.8% in the fourth quarter. Legal & General Group Plc now owns 1,323,372 shares of the company's stock worth $9,991,000 after purchasing an additional 495,325 shares during the last quarter. Kopernik Global Investors LLC increased its stake in shares of Ivanhoe Electric by 5.4% in the fourth quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company's stock worth $19,307,000 after buying an additional 130,807 shares during the period. Barclays PLC raised its holdings in Ivanhoe Electric by 358.9% during the 3rd quarter. Barclays PLC now owns 135,903 shares of the company's stock valued at $1,150,000 after buying an additional 106,288 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Ivanhoe Electric during the 4th quarter valued at $633,000. 79.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IE. JPMorgan Chase & Co. decreased 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. Jefferies Financial Group cut their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James set a $15.00 price target on shares of Ivanhoe Electric and gave the stock an "outperform" rating in a research note on Friday, April 4th. Finally, Scotiabank cut their price objective on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $12.88.

Insider Activity

In other news, CEO Joseph Taylor Melvin acquired 50,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $5.76 per share, for a total transaction of $288,000.00. Following 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 trade represents a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jordan Neeser acquired 20,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $5.86 per share, with a total value of $117,200.00. Following the purchase, the chief financial officer now owns 40,000 shares of the company's stock, valued at approximately $234,400. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 75,000 shares of company stock valued at $434,350 in the last quarter. 10.50% of the stock is currently owned by insiders.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN IE opened at $6.16 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The firm's 50-day moving average price is $6.03 and its 200-day moving average price is $7.58. Ivanhoe Electric Inc. has a 52-week low of $4.50 and a 52-week high of $12.98. The company has a market cap of $743.94 million, a PE ratio of -3.87 and a beta of 0.74.

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.

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