Deutsche Bank AG Sells 7,561 Shares of Ivanhoe Electric Inc. $IE

Deutsche Bank AG reduced its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,410 shares of the company’s stock after selling 7,561 shares during the period. Deutsche Bank AG owned approximately 0.06% of Ivanhoe Electric worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Ivanhoe Electric by 456.9% during the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock valued at $65,000 after buying an additional 9,119 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Ivanhoe Electric during the 1st quarter worth $67,000. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric during the fourth quarter valued at approximately $89,000. Eagle Global Advisors LLC bought a new stake in shares of Ivanhoe Electric in the 4th quarter valued at about $100,000. Finally, Ameriprise Financial Inc. acquired a new stake in Ivanhoe Electric in the fourth quarter worth about $104,000. 79.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Cantor Fitzgerald assumed coverage on Ivanhoe Electric in a research report on Thursday, August 21st. They set an “overweight” rating and a $17.00 price target for the company. Scotiabank restated an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Raymond James Financial upgraded shares of Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $14.00.

Ivanhoe Electric Trading Down 1.0%

Shares of Ivanhoe Electric stock opened at $8.92 on Thursday. The company has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $7.55. Ivanhoe Electric Inc. has a 12-month low of $4.50 and a 12-month high of $13.25. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -13.94 and a beta of 0.88.

Insiders Place Their Bets

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $8.92, for a total transaction of $1,195,806.28. Following the completion of the sale, the vice president owned 194,226 shares in the company, valued at approximately $1,732,495.92. This represents a 40.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.06% of the stock is currently owned by corporate insiders.

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.