FMR LLC reduced its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,218,237 shares of the company's stock after selling 2,397,232 shares during the period. FMR LLC owned 7.65% of Ivanhoe Electric worth $77,986,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Ivanhoe Electric by 6.7% in the first quarter. Vanguard Group Inc. now owns 682,580 shares of the company's stock worth $6,689,000 after acquiring an additional 42,843 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ivanhoe Electric by 51.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company's stock worth $2,746,000 after purchasing an additional 99,106 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Ivanhoe Electric during the 2nd quarter valued at about $106,000. Rhumbline Advisers raised its holdings in Ivanhoe Electric by 34.8% in the second quarter. Rhumbline Advisers now owns 104,179 shares of the company's stock worth $977,000 after buying an additional 26,909 shares during the last quarter. Finally, Old West Investment Management LLC lifted its stake in shares of Ivanhoe Electric by 2.2% in the second quarter. Old West Investment Management LLC now owns 159,332 shares of the company's stock worth $1,495,000 after buying an additional 3,369 shares in the last quarter. Institutional investors own 79.05% of the company's stock.
Ivanhoe Electric Stock Up 0.7 %
Shares of NYSEAMERICAN IE traded up $0.06 during mid-day trading on Friday, hitting $8.91. 769,056 shares of the company's stock traded hands, compared to its average volume of 660,032. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a 1 year low of $6.31 and a 1 year high of $12.98. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.57 and a beta of 0.66.
Analyst Upgrades and Downgrades
IE has been the subject of a number of recent analyst reports. Eight Capital raised Ivanhoe Electric to a "strong-buy" rating in a research report on Thursday, September 26th. Scotiabank lowered their price objective on shares of Ivanhoe Electric from $14.50 to $14.00 and set a "sector outperform" rating on the stock in a research report on Monday, August 19th.
Read Our Latest Stock Analysis on IE
About Ivanhoe Electric
(
Free Report)
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.
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