ExodusPoint Capital Management LP Invests $633,000 in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

ExodusPoint Capital Management LP purchased a new stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 83,897 shares of the company's stock, valued at approximately $633,000. ExodusPoint Capital Management LP owned about 0.07% of Ivanhoe Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its stake in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company's stock valued at $27,132,000 after purchasing an additional 1,558,467 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ivanhoe Electric by 0.8% in 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 during the period. Tidal Investments LLC lifted its position in shares of Ivanhoe Electric by 14.5% in the third quarter. Tidal Investments LLC now owns 366,222 shares of the company's stock valued at $3,098,000 after buying an additional 46,345 shares during the last quarter. Euro Pacific Asset Management LLC boosted its stake in shares of Ivanhoe Electric by 15.5% during the 4th quarter. Euro Pacific Asset Management LLC now owns 191,180 shares of the company's stock worth $1,456,000 after acquiring an additional 25,708 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Ivanhoe Electric by 8.4% during 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 during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock traded down $0.31 during trading on Thursday, reaching $6.11. The company's stock had a trading volume of 207,593 shares, compared to its average volume of 749,652. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $12.98. The firm has a market cap of $737.90 million, a PE ratio of -3.84 and a beta of 0.74. The business's 50-day moving average price is $5.96 and its 200-day moving average price is $7.73. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IE. Scotiabank cut their price target on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a report on Monday, January 6th. Jefferies Financial Group cut their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased 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 note on Thursday, April 10th. Finally, Raymond James set a $15.00 price objective on shares of Ivanhoe Electric and gave the stock an "outperform" rating in a research report on Friday, April 4th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ivanhoe Electric presently has an average rating of "Buy" and an average price target of $12.88.

Insider Buying and Selling at Ivanhoe Electric

In related news, CEO Joseph Taylor Melvin acquired 50,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $5.76 per share, with a total value of $288,000.00. Following the acquisition, the chief executive officer now directly owns 730,753 shares of the company's stock, valued at approximately $4,209,137.28. The trade was a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Graham Richard Thomas Boyd bought 5,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $5.83 per share, with a total value of $29,150.00. Following the completion of the transaction, the vice president now owns 11,510 shares in the company, valued at approximately $67,103.30. This trade represents a 76.80 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 75,000 shares of company stock valued at $434,350 in the last quarter. Company insiders own 10.50% of the company's stock.

Ivanhoe Electric 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.