Intech Investment Management LLC Lowers Holdings in Ivanhoe Electric Inc. $IE

Intech Investment Management LLC lowered its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 30.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,821 shares of the company’s stock after selling 15,658 shares during the period. Intech Investment Management LLC’s holdings in Ivanhoe Electric were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ivanhoe Electric during the 1st quarter worth approximately $662,000. Federated Hermes Inc. grew its position in Ivanhoe Electric by 68.8% during the first quarter. Federated Hermes Inc. now owns 27,000 shares of the company’s stock valued at $157,000 after buying an additional 11,000 shares during the period. Vanguard Group Inc. grew its position in shares of Ivanhoe Electric by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company’s stock valued at $29,851,000 after acquiring an additional 496,058 shares during the period. Primecap Management Co. CA lifted its position in shares of Ivanhoe Electric by 21.8% during the 1st quarter. Primecap Management Co. CA now owns 477,400 shares of the company’s stock valued at $2,774,000 after buying an additional 85,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ivanhoe Electric by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 732,032 shares of the company’s stock valued at $4,253,000 after purchasing an additional 23,626 shares during the period. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

IE opened at $14.31 on Monday. Ivanhoe Electric Inc. has a 1-year low of $4.50 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $13.44 and its 200 day simple moving average is $10.59. The stock has a market cap of $2.07 billion, a P/E ratio of -34.90 and a beta of 1.00.

Analyst Upgrades and Downgrades

IE has been the subject of a number of analyst reports. Scotiabank restated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. Raymond James Financial raised their price target on Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Ivanhoe Electric from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. National Bankshares initiated coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 3rd. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald started coverage on Ivanhoe Electric in a report on Thursday, August 21st. They set an “overweight” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, Ivanhoe Electric has a consensus rating of “Buy” and an average target price of $15.70.

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.