Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 351,537 shares of the company’s stock after selling 11,400 shares during the quarter. Russell Investments Group Ltd.’s holdings in Ivanhoe Electric were worth $2,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IE. JPMorgan Chase & Co. raised its stake in shares of Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock valued at $566,000 after purchasing an additional 1,643 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ivanhoe Electric by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company’s stock valued at $5,348,000 after buying an additional 5,535 shares in the last quarter. Rhumbline Advisers raised its stake in Ivanhoe Electric by 6.5% during the fourth quarter. Rhumbline Advisers now owns 106,923 shares of the company’s stock valued at $807,000 after buying an additional 6,505 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Ivanhoe Electric during the 4th quarter worth approximately $80,000. Finally, Swiss National Bank grew its position in shares of Ivanhoe Electric by 8.4% in the 4th quarter. Swiss National Bank now owns 153,900 shares of the company’s stock worth $1,162,000 after acquiring an additional 11,900 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IE shares. Raymond James set a $15.00 price target on Ivanhoe Electric and gave the company an “outperform” rating in a research report on Friday, April 4th. Scotiabank lowered their target price on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $12.88.

Ivanhoe Electric Price Performance

Shares of IE opened at $6.10 on Friday. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month 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. The stock has a fifty day moving average price of $5.97 and a 200 day moving average price of $7.70. The company has a market cap of $736.70 million, a P/E ratio of -3.84 and a beta of 0.74.

Insider Activity

In other Ivanhoe Electric news, CFO Jordan Neeser bought 20,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $5.86 per share, with a total value of $117,200.00. Following the purchase, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at approximately $234,400. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Graham Richard Thomas Boyd purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $5.83 per share, with a total value of $29,150.00. Following the purchase, the vice president now owns 11,510 shares of the company’s stock, valued at approximately $67,103.30. This represents a 76.80 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 75,000 shares of company stock valued at $434,350. 10.50% of the stock is currently owned by company insiders.

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.