Principal Financial Group Inc. purchased a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,292 shares of the company’s stock, valued at approximately $106,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Mak Capital One LLC boosted its holdings in shares of Ivanhoe Electric by 30.2% in the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock valued at $12,994,000 after buying an additional 299,018 shares during the last quarter. Tidal Investments LLC boosted its stake in Ivanhoe Electric by 432.6% in the first quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after buying an additional 244,341 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Ivanhoe Electric by 51.2% during the second quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock valued at $2,746,000 after purchasing an additional 99,106 shares in the last quarter. Anson Funds Management LP acquired a new stake in shares of Ivanhoe Electric during the first quarter valued at about $598,000. Finally, Goehring & Rozencwajg Associates LLC raised its position in shares of Ivanhoe Electric by 4.1% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company’s stock worth $13,722,000 after acquiring an additional 53,045 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.
Ivanhoe Electric Price Performance
IE stock opened at $7.75 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.52 and a current ratio of 3.66. Ivanhoe Electric Inc. has a 1-year low of $6.31 and a 1-year high of $13.95. The firm has a market capitalization of $933.10 million, a price-to-earnings ratio of -7.24 and a beta of 0.81.
Analyst Upgrades and Downgrades
Separately, Scotiabank lowered their target price on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.
Get Our Latest Research Report on Ivanhoe Electric
About Ivanhoe Electric
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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