Intech Investment Management LLC Has $326,000 Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Intech Investment Management LLC lifted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 125.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,211 shares of the company’s stock after acquiring an additional 24,074 shares during the quarter. Intech Investment Management LLC’s holdings in Ivanhoe Electric were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after acquiring an additional 1,558,467 shares during the last quarter. Raffles Associates LP boosted its position 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 purchasing an additional 457,479 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter valued at about $1,122,000. Barclays PLC grew its stake in Ivanhoe Electric by 358.9% during the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after purchasing an additional 106,288 shares during the period. Finally, Tidal Investments LLC increased its holdings in Ivanhoe Electric by 14.5% in the third quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock worth $3,098,000 after purchasing an additional 46,345 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Trading Up 0.6 %

IE opened at $6.80 on Wednesday. The firm has a market capitalization of $821.24 million, a P/E ratio of -4.28 and a beta of 0.74. The business’s fifty day simple moving average is $6.31. Ivanhoe Electric Inc. has a 1-year low of $5.34 and a 1-year high of $12.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Insider Activity at Ivanhoe Electric

In other news, CFO Jordan Neeser bought 20,000 shares of Ivanhoe Electric stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $5.86 per share, for a total transaction of $117,200.00. Following the purchase, the chief financial officer now directly owns 40,000 shares in the company, valued at $234,400. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Taylor Melvin purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the completion of the acquisition, the chief executive officer now owns 730,753 shares of the company’s stock, valued at $4,209,137.28. The trade was a 7.34 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 75,000 shares of company stock valued at $434,350. 10.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on IE. Jefferies Financial Group cut their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Scotiabank dropped their price objective on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th.

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.