Charles Schwab Investment Management Inc. Increases Stock Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Charles Schwab Investment Management Inc. increased its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 708,406 shares of the company’s stock after buying an additional 5,535 shares during the period. Charles Schwab Investment Management Inc. owned about 0.59% of Ivanhoe Electric worth $5,348,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings 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 valued at $27,132,000 after acquiring an additional 1,558,467 shares during the period. Raffles Associates LP grew its position in Ivanhoe Electric by 70.0% in the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after purchasing an additional 457,479 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $1,122,000. Barclays PLC raised its holdings in shares of Ivanhoe Electric by 358.9% during the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock valued at $1,150,000 after buying an additional 106,288 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Ivanhoe Electric by 14.5% during the third quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock worth $3,098,000 after buying an additional 46,345 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Transactions at Ivanhoe Electric

In other news, CEO Joseph Taylor Melvin bought 50,000 shares of the business’s stock in a transaction on 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 acquisition, the chief executive officer now owns 730,753 shares in the company, valued at approximately $4,209,137.28. This trade represents a 7.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jordan Neeser acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $5.86 per share, with a total value of $117,200.00. Following the transaction, the chief financial officer now owns 40,000 shares in the company, valued at $234,400. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 75,000 shares of company stock worth $434,350 over the last 90 days. 10.50% of the stock is owned by insiders.

Ivanhoe Electric Stock Up 0.6 %

Shares of IE stock opened at $6.80 on Wednesday. The company has a market cap of $821.24 million, a P/E ratio of -4.28 and a beta of 0.74. Ivanhoe Electric Inc. has a 12-month low of $5.34 and a 12-month 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 company’s 50-day moving average price is $6.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IE shares. Scotiabank lowered their price objective on shares of 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. JPMorgan Chase & Co. decreased their price target on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group cut their price objective on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Ivanhoe Electric Company 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.