UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 7.6% in the 3rd quarter, Holdings Channel reports. The fund owned 156,742 shares of the company’s stock after selling 12,832 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ivanhoe Electric were worth $1,326,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Avior Wealth Management LLC purchased a new stake in shares of Ivanhoe Electric in the third quarter valued at $32,000. nVerses Capital LLC acquired a new stake in Ivanhoe Electric in the 3rd quarter worth about $33,000. Principal Financial Group Inc. purchased a new stake in Ivanhoe Electric in the 2nd quarter valued at about $106,000. Creative Planning increased its stake in shares of Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after acquiring an additional 4,644 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Ivanhoe Electric during the 3rd quarter worth about $162,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a report on Thursday, September 26th.

Ivanhoe Electric Stock Down 0.3 %

Shares of IE opened at $7.72 on Wednesday. Ivanhoe Electric Inc. has a twelve month low of $6.31 and a twelve month high of $12.98. The firm has a market capitalization of $929.95 million, a P/E ratio of -4.85 and a beta of 0.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

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.