ProShare Advisors LLC Has $178,000 Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

ProShare Advisors LLC lifted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 49.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,541 shares of the company’s stock after buying an additional 7,746 shares during the quarter. ProShare Advisors LLC’s holdings in Ivanhoe Electric were worth $178,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IE. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ivanhoe Electric in the 4th quarter worth about $80,000. BNP Paribas Financial Markets acquired a new stake in Ivanhoe Electric in the 4th quarter worth about $89,000. Eagle Global Advisors LLC bought a new stake in shares of Ivanhoe Electric during the 4th quarter worth approximately $100,000. KLP Kapitalforvaltning AS bought a new stake in shares of Ivanhoe Electric during the 4th quarter worth approximately $103,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Ivanhoe Electric during the 4th quarter worth approximately $104,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Trading Down 0.4%

NYSEAMERICAN:IE opened at $7.23 on Monday. The firm’s fifty day moving average is $6.27 and its 200-day moving average is $7.42. 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 Inc. has a 52 week low of $4.50 and a 52 week high of $12.13. The firm has a market cap of $873.17 million, a P/E ratio of -4.55 and a beta of 0.74.

Insider Activity

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd acquired 5,000 shares of the stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $5.83 per share, for a total transaction of $29,150.00. Following the completion of the acquisition, the vice president now owns 11,510 shares in the company, valued at approximately $67,103.30. This represents a 76.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Taylor Melvin acquired 50,000 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the acquisition, the chief executive officer now owns 730,753 shares of the company’s stock, valued at approximately $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 three months, insiders have bought 75,000 shares of company stock valued at $434,350. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IE shares. Raymond James set a $15.00 price objective on Ivanhoe Electric and gave the company an “outperform” rating in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their price objective on shares of Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ivanhoe Electric has an average rating of “Buy” and an average price target of $12.88.

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.