Kopernik Global Investors LLC Buys 130,807 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Kopernik Global Investors LLC boosted its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,557,225 shares of the company's stock after acquiring an additional 130,807 shares during the quarter. Ivanhoe Electric accounts for 2.1% of Kopernik Global Investors LLC's portfolio, making the stock its 15th biggest holding. Kopernik Global Investors LLC owned 2.12% of Ivanhoe Electric worth $19,307,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company's stock worth $566,000 after acquiring an additional 1,643 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ivanhoe Electric by 0.8% during the 4th 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 in the last quarter. Bank of Montreal Can increased its stake in Ivanhoe Electric by 22.4% in the 4th quarter. Bank of Montreal Can now owns 33,743 shares of the company's stock worth $255,000 after buying an additional 6,177 shares in the last quarter. Rhumbline Advisers increased its stake in Ivanhoe Electric by 6.5% in the 4th quarter. Rhumbline Advisers now owns 106,923 shares of the company's stock worth $807,000 after buying an additional 6,505 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Ivanhoe Electric during the fourth quarter valued at about $80,000. Institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Trading Down 5.0 %

IE traded down $0.32 during trading on Friday, reaching $6.10. The company had a trading volume of 1,039,081 shares, compared to its average volume of 753,687. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $12.98. The stock has a market cap of $736.70 million, a P/E ratio of -3.84 and a beta of 0.74. The business has a 50 day simple moving average of $5.97 and a 200-day simple moving average of $7.70.

Wall Street Analysts Forecast Growth

IE has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Raymond James set a $15.00 target price on shares of Ivanhoe Electric and gave the company an "outperform" rating in a research note on Friday, April 4th. Jefferies Financial Group dropped their price objective on shares of Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Scotiabank reduced their target price on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $12.88.

Insider Buying and Selling

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