Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 77.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,911 shares of the company’s stock after selling 96,941 shares during the quarter. Jane Street Group LLC’s holdings in Ivanhoe Electric were worth $236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds 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% in 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 boosted its holdings in shares of Ivanhoe Electric by 70.0% in the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock valued at $9,400,000 after acquiring an additional 457,479 shares during the period. Mak Capital One LLC boosted its holdings in shares of Ivanhoe Electric by 21.6% in the second quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after acquiring an additional 316,903 shares during the period. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Ivanhoe Electric by 13.9% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after acquiring an additional 199,400 shares during the period. Finally, PDT Partners LLC acquired a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $1,122,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on IE shares. Scotiabank cut their price objective 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. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. 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 Price Performance

Shares of NYSEAMERICAN:IE opened at $7.27 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a 12-month low of $6.31 and a 12-month high of $12.98. The stock has a market capitalization of $875.74 million, a price-to-earnings ratio of -4.57 and a beta of 0.66.

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.