Eagle Global Advisors LLC Boosts Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Eagle Global Advisors LLC boosted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,800 shares of the company’s stock after purchasing an additional 2,600 shares during the period. Eagle Global Advisors LLC’s holdings in Ivanhoe Electric were worth $92,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Ivanhoe Electric by 456.9% in the 1st quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock valued at $65,000 after acquiring an additional 9,119 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Ivanhoe Electric in the 1st quarter valued at $67,000. BNP Paribas Financial Markets purchased a new position in shares of Ivanhoe Electric in the 4th quarter valued at $89,000. Ameriprise Financial Inc. purchased a new position in shares of Ivanhoe Electric in the 4th quarter valued at $104,000. Finally, FNY Investment Advisers LLC raised its stake in shares of Ivanhoe Electric by 19.0% in the 1st quarter. FNY Investment Advisers LLC now owns 25,000 shares of the company’s stock valued at $145,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Down 3.2%

IE stock opened at $9.82 on Tuesday. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $13.25. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -15.34 and a beta of 0.88. The firm’s 50-day moving average is $9.52 and its two-hundred day moving average is $7.38. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IE shares. Raymond James Financial raised shares of Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price target for the company in a report on Monday, June 30th. JPMorgan Chase & Co. raised their price objective on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, June 30th. Finally, Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $13.25.

About Ivanhoe Electric

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.