Intech Investment Management LLC Buys 24,074 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Intech Investment Management LLC raised its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 125.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,211 shares of the company’s stock after acquiring an additional 24,074 shares during the period. Intech Investment Management LLC’s holdings in Ivanhoe Electric were worth $326,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IE. State Street Corp boosted its holdings in shares of Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after acquiring an additional 1,558,467 shares in the last quarter. Raffles Associates LP increased its holdings in 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 purchasing an additional 457,479 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ivanhoe Electric by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company’s stock valued at $5,348,000 after acquiring an additional 5,535 shares during the last quarter. Tidal Investments LLC raised its position in shares of 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. Finally, Vestcor Inc boosted its stake in Ivanhoe Electric by 11.6% during the 3rd quarter. Vestcor Inc now owns 247,981 shares of the company’s stock worth $2,098,000 after acquiring an additional 25,700 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jordan Neeser bought 20,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $5.86 per share, with a total value of $117,200.00. Following the acquisition, the chief financial officer now directly owns 40,000 shares in the company, valued at $234,400. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Taylor Melvin bought 50,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $5.76 per share, with a total value of $288,000.00. Following the completion of the purchase, the chief executive officer now directly owns 730,753 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders acquired 75,000 shares of company stock valued at $434,350. 10.50% of the stock is owned by company insiders.

Ivanhoe Electric Price Performance

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IE shares. Jefferies Financial Group decreased their target price on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Scotiabank decreased their price objective 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.

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.