Moore Capital Management LP Cuts Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Moore Capital Management LP reduced its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 423,553 shares of the company’s stock after selling 22,292 shares during the period. Moore Capital Management LP owned approximately 0.35% of Ivanhoe Electric worth $3,198,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Ivanhoe Electric by 13.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,843,058 shares of the company’s stock valued at $36,566,000 after buying an additional 589,456 shares in the last quarter. Legal & General Group Plc increased its holdings in Ivanhoe Electric by 59.8% in the fourth quarter. Legal & General Group Plc now owns 1,323,372 shares of the company’s stock valued at $9,991,000 after buying an additional 495,325 shares in the last quarter. Kopernik Global Investors LLC increased its holdings in Ivanhoe Electric by 5.4% in the fourth quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company’s stock valued at $19,307,000 after buying an additional 130,807 shares in the last quarter. Barclays PLC increased its holdings in Ivanhoe Electric by 358.9% in the third 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. Finally, Alyeska Investment Group L.P. increased its holdings in Ivanhoe Electric by 4.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,081,096 shares of the company’s stock valued at $15,712,000 after buying an additional 95,749 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $6.73 on Tuesday. Ivanhoe Electric Inc. has a 12-month low of $4.50 and a 12-month high of $12.98. The company has a market capitalization of $812.78 million, a price-to-earnings ratio of -4.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The firm’s fifty day moving average price is $6.05 and its 200 day moving average price is $7.51.

Wall Street Analyst Weigh In

A number of 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 research note on Friday, April 4th. JPMorgan Chase & Co. decreased their target price on shares of Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $12.88.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin purchased 50,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $5.76 per share, with a total value of $288,000.00. Following the acquisition, the chief executive officer now owns 730,753 shares of the company’s stock, valued at approximately $4,209,137.28. This represents a 7.34% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Graham Richard Thomas Boyd purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $5.83 per share, with a total value of $29,150.00. Following the completion of the acquisition, the vice president now directly owns 11,510 shares in the company, valued at approximately $67,103.30. This trade represents a 76.80% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 75,000 shares of company stock valued at $434,350. Insiders own 10.50% of the company’s stock.

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.