Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Stock Position Lowered by Pentwater Capital Management LP

Pentwater Capital Management LP cut its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,566,000 shares of the company's stock after selling 187,000 shares during the period. Ivanhoe Electric comprises about 0.2% of Pentwater Capital Management LP's holdings, making the stock its 21st largest position. Pentwater Capital Management LP owned about 2.13% of Ivanhoe Electric worth $19,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC lifted its stake in Ivanhoe Electric by 358.9% in 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 in the last quarter. Tidal Investments LLC lifted its stake in Ivanhoe Electric by 14.5% in the 3rd quarter. Tidal Investments LLC now owns 366,222 shares of the company's stock valued at $3,098,000 after buying an additional 46,345 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company's stock valued at $566,000 after buying an additional 1,643 shares in the last quarter. Euro Pacific Asset Management LLC lifted its stake in Ivanhoe Electric by 15.5% in the 4th quarter. Euro Pacific Asset Management LLC now owns 191,180 shares of the company's stock valued at $1,456,000 after buying an additional 25,708 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Ivanhoe Electric by 6.5% in the 4th quarter. Rhumbline Advisers now owns 106,923 shares of the company's stock valued at $807,000 after buying an additional 6,505 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jordan Neeser purchased 20,000 shares of Ivanhoe Electric stock in a transaction dated Wednesday, March 5th. The stock was bought 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 in the company, valued at approximately $234,400. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Taylor Melvin purchased 50,000 shares of Ivanhoe Electric stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $5.76 per share, with a total value of $288,000.00. Following the completion of the purchase, the chief executive officer now owns 730,753 shares in the company, valued at approximately $4,209,137.28. This trade represents a 7.34 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 75,000 shares of company stock worth $434,350. Insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James set a $15.00 price target on Ivanhoe Electric and gave the stock an "outperform" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. cut their target price on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Scotiabank cut their target price 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. Finally, Jefferies Financial Group cut their target price on Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $12.88.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE traded down $0.14 during trading on Thursday, reaching $6.16. 642,792 shares of the company's stock traded hands, compared to its average volume of 755,374. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $12.98. The company has a 50 day moving average of $6.03 and a 200-day moving average of $7.58. The stock has a market capitalization of $743.94 million, a P/E ratio of -3.87 and a beta of 0.74.

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.