Vanguard Group Inc. Purchases 496,058 Shares of Ivanhoe Electric Inc. $IE

Vanguard Group Inc. lifted its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,137,785 shares of the company’s stock after purchasing an additional 496,058 shares during the quarter. Vanguard Group Inc. owned about 4.25% of Ivanhoe Electric worth $29,851,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IE. GAMMA Investing LLC increased its holdings in shares of Ivanhoe Electric by 456.9% in the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock worth $65,000 after purchasing an additional 9,119 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Ivanhoe Electric in the first quarter worth $67,000. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric in the fourth quarter worth $89,000. Eagle Global Advisors LLC bought a new position in shares of Ivanhoe Electric in the fourth quarter worth $100,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Ivanhoe Electric in the fourth quarter worth $104,000. Institutional investors own 79.05% of the company’s stock.

Insider Activity

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,732,495.92. The trade was a 40.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.06% of the stock is currently owned by insiders.

Ivanhoe Electric Trading Down 1.0%

NYSEAMERICAN:IE opened at $8.92 on Thursday. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $13.25. The company has a 50 day simple moving average of $9.84 and a two-hundred day simple moving average of $7.55. 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 company has a market cap of $1.18 billion, a PE ratio of -13.94 and a beta of 0.88.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IE shares. Raymond James Financial raised shares of Ivanhoe Electric to a “moderate buy” rating and set a $15.00 price target on the stock in a report on Monday, June 30th. Cantor Fitzgerald began coverage on Ivanhoe Electric in a research note on Thursday, August 21st. They issued an “overweight” rating and a $17.00 target price on the stock. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on Ivanhoe Electric from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, Ivanhoe Electric has a consensus rating of “Buy” and an average target price of $14.00.

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.