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

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

A number of other hedge funds have also recently added to or reduced their stakes in IE. Vanguard Group Inc. boosted its position in shares of Ivanhoe Electric by 10.7% during the first quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company’s stock worth $29,851,000 after buying an additional 496,058 shares during the period. Invst LLC bought a new position in shares of Ivanhoe Electric during the 1st quarter valued at about $1,302,000. Primecap Management Co. CA increased its holdings in shares of Ivanhoe Electric by 21.8% in the first 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. Algert Global LLC purchased a new stake in shares of Ivanhoe Electric during the first quarter valued at $307,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ivanhoe Electric in the first quarter worth about $662,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. National Bankshares assumed coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 3rd. They issued an “outperform” rating on the stock. Raymond James Financial boosted their target price on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Cantor Fitzgerald started coverage on shares of Ivanhoe Electric in a research note on Thursday, August 21st. They set an “overweight” rating and a $17.00 target price for the company. National Bank Financial upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Scotiabank restated an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.70.

Ivanhoe Electric Price Performance

NYSEAMERICAN:IE opened at $14.31 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.07 billion, a PE ratio of -34.90 and a beta of 1.00. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $17.90. The company’s 50-day moving average price is $13.44 and its two-hundred day moving average price is $10.59.

About Ivanhoe Electric

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.