Vestcor Inc Sells 56,800 Shares of Ivanhoe Electric Inc. $IE

Vestcor Inc decreased its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 494,381 shares of the company’s stock after selling 56,800 shares during the quarter. Vestcor Inc owned about 0.34% of Ivanhoe Electric worth $7,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IE. FNY Investment Advisers LLC bought a new stake in Ivanhoe Electric during the 4th quarter valued at $56,000. Tower Research Capital LLC TRC raised its holdings in Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after acquiring an additional 3,713 shares during the period. BNP Paribas Financial Markets raised its holdings in Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after acquiring an additional 2,449 shares during the period. IFP Advisors Inc raised its holdings in Ivanhoe Electric by 138.1% during the 3rd quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock valued at $83,000 after acquiring an additional 3,717 shares during the period. Finally, Comerica Bank raised its holdings in Ivanhoe Electric by 352.3% during the 3rd quarter. Comerica Bank now owns 6,997 shares of the company’s stock valued at $88,000 after acquiring an additional 5,450 shares during the period. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

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

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $11.49 on Friday. Ivanhoe Electric Inc. has a fifty-two week low of $7.72 and a fifty-two week high of $21.55. The firm’s fifty day moving average price is $13.16 and its 200-day moving average price is $14.66. The stock has a market cap of $1.82 billion, a P/E ratio of -14.19 and a beta of 1.15.

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.