Jane Street Group LLC decreased its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 77.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,911 shares of the company's stock after selling 96,941 shares during the period. Jane Street Group LLC's holdings in Ivanhoe Electric were worth $236,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC purchased a new position in Ivanhoe Electric in the third quarter valued at about $32,000. nVerses Capital LLC acquired a new stake in shares of Ivanhoe Electric during the 3rd quarter valued at about $33,000. Principal Financial Group Inc. bought a new stake in shares of Ivanhoe Electric in the 2nd quarter valued at approximately $106,000. Creative Planning increased its holdings in Ivanhoe Electric by 33.9% in the third quarter. Creative Planning now owns 18,347 shares of the company's stock worth $155,000 after buying an additional 4,644 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Ivanhoe Electric during the third quarter valued at approximately $162,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Eight Capital raised Ivanhoe Electric to a "strong-buy" rating in a research report on Thursday, September 26th. Scotiabank decreased their target price on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group dropped their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, January 6th.
Read Our Latest Report on Ivanhoe Electric
Ivanhoe Electric Stock Performance
NYSEAMERICAN IE traded up $0.29 on Friday, reaching $7.27. The company's stock had a trading volume of 744,394 shares, compared to its average volume of 548,999. Ivanhoe Electric Inc. has a 52 week low of $6.31 and a 52 week high of $12.98. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock has a market cap of $875.74 million, a P/E ratio of -4.57 and a beta of 0.66.
Ivanhoe Electric Company Profile
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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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