Invst LLC Takes Position in Ivanhoe Electric Inc. $IE

Invst LLC acquired a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 224,036 shares of the company’s stock, valued at approximately $1,302,000. Invst LLC owned about 0.19% of Ivanhoe Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in Ivanhoe Electric by 7.4% in the first quarter. Jennison Associates LLC now owns 705,716 shares of the company’s stock valued at $4,100,000 after acquiring an additional 48,332 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Ivanhoe Electric by 231.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 53,800 shares of the company’s stock valued at $313,000 after acquiring an additional 37,570 shares during the last quarter. Vestcor Inc boosted its stake in Ivanhoe Electric by 191.5% in the first quarter. Vestcor Inc now owns 722,781 shares of the company’s stock valued at $4,199,000 after acquiring an additional 474,800 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in Ivanhoe Electric by 2.3% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,713,186 shares of the company’s stock valued at $10,844,000 after acquiring an additional 37,719 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ivanhoe Electric by 10.7% in the first quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company’s stock valued at $29,851,000 after acquiring an additional 496,058 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $8.92, for a total value of $1,195,806.28. Following the completion of the sale, the vice president owned 194,226 shares of the company’s stock, valued at $1,732,495.92. The trade was a 40.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.06% of the stock is owned by corporate insiders.

Ivanhoe Electric Stock Performance

NYSEAMERICAN IE opened at $8.83 on Friday. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.17 billion, a P/E ratio of -13.80 and a beta of 0.88. Ivanhoe Electric Inc. has a 12-month low of $4.50 and a 12-month high of $13.25. The firm has a 50-day moving average price of $9.82 and a two-hundred day moving average price of $7.79.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IE. National Bankshares began coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 3rd. They issued an “outperform” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Cantor Fitzgerald began coverage on shares of Ivanhoe Electric in a report on Thursday, August 21st. They issued an “overweight” rating and a $17.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, June 30th. Finally, Raymond James Financial upgraded shares of Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.00.

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.