Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 77.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,911 shares of the company’s stock after selling 96,941 shares during the period. Jane Street Group LLC’s holdings in Ivanhoe Electric were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in shares of Ivanhoe Electric by 94.5% during the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after buying an additional 1,558,467 shares during the period. Mak Capital One LLC raised its holdings in shares of Ivanhoe Electric by 21.6% during the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after buying an additional 316,903 shares during the period. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Ivanhoe Electric by 13.9% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after buying an additional 199,400 shares during the period. Raffles Associates LP raised its holdings in shares of Ivanhoe Electric by 70.0% during the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock valued at $9,400,000 after buying an additional 457,479 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Ivanhoe Electric by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock valued at $5,946,000 after buying an additional 8,023 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IE shares. 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. Scotiabank dropped their price objective on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th. Finally, Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a report on Thursday, September 26th.

Ivanhoe Electric Stock Performance

IE stock opened at $7.27 on Friday. The company has a market cap of $875.74 million, a price-to-earnings ratio of -4.57 and a beta of 0.66. 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 Inc. has a 52-week low of $6.31 and a 52-week high of $12.98.

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.