Vanguard Group Inc. Has $105.14 Million Holdings in Ivanhoe Electric Inc. $IE

Vanguard Group Inc. lifted its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 24.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,579,446 shares of the company’s stock after buying an additional 1,290,175 shares during the period. Vanguard Group Inc.’s holdings in Ivanhoe Electric were worth $105,140,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IE. Potrero Capital Research LLC acquired a new position in shares of Ivanhoe Electric in the 3rd quarter worth approximately $17,381,000. Primecap Management Co. CA raised its holdings in shares of Ivanhoe Electric by 79.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock worth $35,495,000 after buying an additional 1,253,400 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Ivanhoe Electric in the 3rd quarter worth approximately $11,274,000. Wellington Management Group LLP acquired a new position in shares of Ivanhoe Electric in the 3rd quarter worth approximately $9,125,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ivanhoe Electric by 42.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,274,628 shares of the company’s stock worth $12,273,000 after buying an additional 378,760 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Ivanhoe Electric Price Performance

IE stock opened at $14.61 on Wednesday. The business has a fifty day moving average price of $13.19 and a 200 day moving average price of $14.77. Ivanhoe Electric Inc. has a fifty-two week low of $6.53 and a fifty-two week high of $21.55. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -18.04 and a beta of 1.16.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, CFO Jordan Neeser sold 17,123 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $226,023.60. Following the transaction, the chief financial officer directly owned 84,247 shares in the company, valued at approximately $1,112,060.40. This trade represents a 16.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Glen Nickolas Kuntz sold 14,863 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $196,191.60. Following the completion of the transaction, the senior vice president owned 32,768 shares in the company, valued at $432,537.60. The trade was a 31.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 183,912 shares of company stock worth $2,831,321. Corporate insiders own 12.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their target price on Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.88.

Ivanhoe Electric Company Profile

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.