Barclays PLC Purchases 106,288 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Barclays PLC increased its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 358.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 135,903 shares of the company’s stock after purchasing an additional 106,288 shares during the quarter. Barclays PLC owned approximately 0.11% of Ivanhoe Electric worth $1,150,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after buying an additional 199,400 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Ivanhoe Electric in the third quarter valued at about $162,000. SG Americas Securities LLC acquired a new position in shares of Ivanhoe Electric in the third quarter valued at about $431,000. Finally, Bank of New York Mellon Corp increased its position in 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 worth $2,746,000 after acquiring an additional 99,106 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock opened at $6.86 on Tuesday. Ivanhoe Electric Inc. has a 52 week low of $6.31 and a 52 week high of $12.98. The company has a market cap of $826.36 million, a price-to-earnings ratio of -4.31 and a beta of 0.66. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IE. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank decreased their price target on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a research note on Monday, January 6th. Finally, Jefferies Financial Group lowered their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, January 6th.

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.