Ivanhoe Electric Inc. $IE Shares Purchased by Alps Advisors Inc.

Alps Advisors Inc. grew its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 40.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,410 shares of the company’s stock after buying an additional 45,502 shares during the quarter. Alps Advisors Inc.’s holdings in Ivanhoe Electric were worth $1,988,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Primecap Management Co. CA lifted its holdings in shares of Ivanhoe Electric by 229.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,574,884 shares of the company’s stock valued at $14,284,000 after acquiring an additional 1,097,484 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Ivanhoe Electric by 44.5% in the second quarter. Legal & General Group Plc now owns 1,759,911 shares of the company’s stock valued at $15,962,000 after buying an additional 541,719 shares in the last quarter. Covalis Capital LLP purchased a new stake in shares of Ivanhoe Electric during the second quarter valued at approximately $3,562,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ivanhoe Electric by 42.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,274,628 shares of the company’s stock valued at $12,273,000 after purchasing an additional 378,760 shares during the period. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of Ivanhoe Electric during the second quarter worth $2,297,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Price Performance

Shares of IE opened at $17.97 on Wednesday. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $21.55. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -43.83 and a beta of 0.98. The stock has a 50 day moving average of $16.88 and a 200-day moving average of $13.49.

Insiders Place Their Bets

In other Ivanhoe Electric news, insider Quentin Markin sold 90,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $16.34, for a total transaction of $1,470,600.00. Following the completion of the sale, the insider owned 728,493 shares in the company, valued at $11,903,575.62. The trade was a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

IE has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Electric in a report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price target on Ivanhoe Electric from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.13.

About Ivanhoe Electric

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.