Renaissance Technologies LLC Invests $451,000 in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Renaissance Technologies LLC acquired a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 59,700 shares of the company's stock, valued at approximately $451,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ivanhoe Electric by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company's stock valued at $5,348,000 after purchasing an additional 5,535 shares during the last quarter. Bank of Montreal Can boosted its holdings in Ivanhoe Electric by 22.4% during the fourth quarter. Bank of Montreal Can now owns 33,743 shares of the company's stock worth $255,000 after buying an additional 6,177 shares in the last quarter. Rhumbline Advisers grew its position in Ivanhoe Electric by 6.5% in the fourth quarter. Rhumbline Advisers now owns 106,923 shares of the company's stock worth $807,000 after buying an additional 6,505 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ivanhoe Electric in the fourth quarter valued at $80,000. Institutional investors own 79.05% of the company's stock.

Insider Buying and Selling

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd bought 5,000 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $5.83 per share, with a total value of $29,150.00. Following the acquisition, the vice president now owns 11,510 shares of the company's stock, valued at approximately $67,103.30. The trade was a 76.80 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jordan Neeser bought 20,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $5.86 per share, with a total value of $117,200.00. Following the transaction, the chief financial officer now directly owns 40,000 shares in the company, valued at approximately $234,400. The trade was a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 75,000 shares of company stock worth $434,350 in the last 90 days. Corporate insiders own 10.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IE shares. Raymond James set a $15.00 price objective on Ivanhoe Electric and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank lowered their price target on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a research note on Monday, January 6th. Jefferies Financial Group dropped their price objective on Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One investment 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's stock. According to MarketBeat, Ivanhoe Electric has a consensus rating of "Buy" and an average target price of $12.88.

Ivanhoe Electric Price Performance

Shares of Ivanhoe Electric stock traded up $0.10 during mid-day trading on Tuesday, reaching $6.16. 511,678 shares of the stock were exchanged, compared to its average volume of 756,846. Ivanhoe Electric Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $12.98. The company has a market cap of $743.94 million, a price-to-earnings ratio of -3.87 and a beta of 0.74. The firm has a 50-day simple moving average of $6.01 and a 200 day simple moving average of $7.56. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.

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.