Swiss National Bank Increases Stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Swiss National Bank raised its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,900 shares of the company’s stock after purchasing an additional 11,900 shares during the quarter. Swiss National Bank owned approximately 0.13% of Ivanhoe Electric worth $1,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IE. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ivanhoe Electric in the fourth quarter worth $80,000. Intech Investment Management LLC purchased a new stake in Ivanhoe Electric during the 3rd quarter worth about $162,000. Arizona State Retirement System bought a new position in Ivanhoe Electric in the 4th quarter worth about $171,000. JPMorgan Chase & Co. boosted its stake in Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after purchasing an additional 1,643 shares during the period. Finally, Rhumbline Advisers grew its holdings in Ivanhoe Electric by 6.5% during the 4th quarter. Rhumbline Advisers now owns 106,923 shares of the company’s stock valued at $807,000 after buying an additional 6,505 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Price Performance

Shares of Ivanhoe Electric stock opened at $6.34 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a one year low of $5.34 and a one year high of $12.98. The stock has a 50 day moving average of $6.28. The stock has a market cap of $765.68 million, a PE ratio of -3.99 and a beta of 0.74.

Analyst Ratings Changes

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

Insider Activity

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $5.76 per share, with a total value of $288,000.00. Following the completion of the purchase, the chief executive officer now directly 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jordan Neeser acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $5.86 per share, with a total value of $117,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 40,000 shares in the company, valued at approximately $234,400. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 75,000 shares of company stock valued at $434,350. Insiders own 10.50% of the company’s stock.

Ivanhoe Electric 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.