SG Americas Securities LLC Has $2.41 Million Stake in Ivanhoe Electric Inc. $IE

SG Americas Securities LLC raised its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 186.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 150,740 shares of the company’s stock after buying an additional 98,052 shares during the period. SG Americas Securities LLC owned 0.10% of Ivanhoe Electric worth $2,409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in shares of Ivanhoe Electric by 3.8% in the 2nd quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock valued at $305,000 after acquiring an additional 1,247 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after purchasing an additional 2,449 shares during the last quarter. Swiss National Bank grew its stake in Ivanhoe Electric by 1.5% in the third quarter. Swiss National Bank now owns 167,100 shares of the company’s stock valued at $2,097,000 after purchasing an additional 2,500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Ivanhoe Electric by 3.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 117,712 shares of the company’s stock valued at $1,477,000 after purchasing an additional 3,712 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after purchasing an additional 3,713 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock opened at $12.19 on Friday. The company’s 50-day moving average is $14.90 and its 200-day moving average is $14.64. The firm has a market capitalization of $1.92 billion, a PE ratio of -15.43 and a beta of 1.20. Ivanhoe Electric Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $21.55.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, insider Cassandra Pulskamp Joseph sold 4,664 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $61,564.80. Following the sale, the insider owned 46,706 shares in the company, valued at $616,519.20. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Taylor Melvin sold 6,808 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $89,865.60. Following the completion of the sale, the chief executive officer directly owned 626,110 shares of the company’s stock, valued at approximately $8,264,652. The trade was a 1.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 183,912 shares of company stock valued at $2,831,321. Company insiders own 12.06% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price objective on Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $18.13.

Ivanhoe Electric Profile

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.