Ballentine Partners LLC Takes Position in Ivanhoe Electric Inc. $IE

Ballentine Partners LLC bought a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 10,218 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors also recently bought and sold shares of the stock. Eagle Global Advisors LLC grew its position in Ivanhoe Electric by 19.7% in the first quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company’s stock worth $92,000 after acquiring an additional 2,600 shares in the last quarter. FNY Investment Advisers LLC grew its position in Ivanhoe Electric by 19.0% in the first quarter. FNY Investment Advisers LLC now owns 25,000 shares of the company’s stock worth $145,000 after acquiring an additional 4,000 shares in the last quarter. California State Teachers Retirement System grew its position in Ivanhoe Electric by 6.5% in the fourth quarter. California State Teachers Retirement System now owns 73,530 shares of the company’s stock worth $555,000 after acquiring an additional 4,462 shares in the last quarter. Rhumbline Advisers lifted its stake in Ivanhoe Electric by 5.4% in the first quarter. Rhumbline Advisers now owns 112,663 shares of the company’s stock worth $655,000 after purchasing an additional 5,740 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in 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 last quarter. 79.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IE has been the subject of several analyst reports. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, June 24th. National Bankshares initiated coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 3rd. They issued an “outperform” rating for the company. Cantor Fitzgerald initiated coverage on shares of Ivanhoe Electric in a research note on Thursday, August 21st. They issued an “overweight” rating and a $17.00 price objective for the company. National Bank Financial raised shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $14.00.

Ivanhoe Electric Stock Up 6.7%

IE stock opened at $12.55 on Wednesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -19.61 and a beta of 0.88. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $13.25. The firm has a 50-day moving average of $9.75 and a two-hundred day moving average of $8.23.

Insider Activity

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $1,732,495.92. This trade represents a 40.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.06% of the stock is owned by corporate insiders.

About Ivanhoe Electric

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.