Police & Firemen s Retirement System of New Jersey Purchases 3,822 Shares of Ivanhoe Electric Inc. $IE

Police & Firemen s Retirement System of New Jersey raised its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 22.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,628 shares of the company’s stock after acquiring an additional 3,822 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Ivanhoe Electric were worth $187,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after purchasing an additional 8,381 shares during the period. Eagle Global Advisors LLC boosted its stake in Ivanhoe Electric by 19.7% during the first quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company’s stock worth $92,000 after buying an additional 2,600 shares in the last quarter. Ballentine Partners LLC bought a new stake in Ivanhoe Electric in the 2nd quarter valued at $93,000. Centerpoint Advisors LLC increased its holdings in Ivanhoe Electric by 944.7% in the 1st quarter. Centerpoint Advisors LLC now owns 19,850 shares of the company’s stock valued at $115,000 after buying an additional 17,950 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Ivanhoe Electric by 13.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock valued at $118,000 after buying an additional 1,587 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

NYSEAMERICAN:IE opened at $14.31 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -34.90 and a beta of 0.99. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. Ivanhoe Electric Inc. has a 1 year low of $4.50 and a 1 year high of $17.90. The firm has a 50 day moving average of $13.44 and a 200-day moving average of $10.53.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IE. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. National Bank Financial raised Ivanhoe Electric to a “strong-buy” rating in a report on Wednesday, September 3rd. Raymond James Financial increased their target price on Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. National Bankshares started coverage on Ivanhoe Electric in a research note on Wednesday, September 3rd. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.70.

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.