Charles Schwab Investment Management Inc. Has $5.35 Million Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Charles Schwab Investment Management Inc. lifted its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 708,406 shares of the company’s stock after purchasing an additional 5,535 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ivanhoe Electric were worth $5,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Raffles Associates LP lifted its position in shares of Ivanhoe Electric by 70.0% in the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock valued at $9,400,000 after buying an additional 457,479 shares during the last quarter. PDT Partners LLC bought a new position in shares of Ivanhoe Electric during the 3rd quarter worth approximately $1,122,000. Barclays PLC increased its holdings in shares of Ivanhoe Electric by 358.9% during the 3rd quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after acquiring an additional 106,288 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Ivanhoe Electric by 14.5% in the 3rd quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock valued at $3,098,000 after acquiring an additional 46,345 shares during the period. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock opened at $6.80 on Wednesday. The firm has a 50 day moving average price of $6.31. The firm has a market capitalization of $821.24 million, a P/E ratio of -4.28 and a beta of 0.74. Ivanhoe Electric Inc. has a 1 year low of $5.34 and a 1 year high of $12.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Insider Activity

In other Ivanhoe Electric news, CFO Jordan Neeser acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $5.86 per share, for a total transaction of $117,200.00. Following the completion of the transaction, the chief financial officer now owns 40,000 shares of the company’s stock, valued at approximately $234,400. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Taylor Melvin bought 50,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $5.76 per share, with a total value of $288,000.00. Following the completion of the transaction, the chief executive officer now owns 730,753 shares of the company’s stock, valued at $4,209,137.28. The trade was a 7.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 75,000 shares of company stock worth $434,350 over the last three months. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Scotiabank dropped their price target on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price target on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th.

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.