Ivanhoe Electric Inc. (NYSEAMERICAN:IE) is Raffles Associates LP’s 2nd Largest Position

Raffles Associates LP increased its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IEFree Report) by 70.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,111,077 shares of the company’s stock after purchasing an additional 457,479 shares during the quarter. Ivanhoe Electric makes up approximately 9.6% of Raffles Associates LP’s portfolio, making the stock its 2nd biggest holding. Raffles Associates LP owned 0.92% of Ivanhoe Electric worth $9,400,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. PDT Partners LLC purchased a new stake in Ivanhoe Electric during the third quarter valued at about $1,122,000. The Manufacturers Life Insurance Company raised its position in shares of Ivanhoe Electric by 0.9% in the third quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company’s stock valued at $1,086,000 after purchasing an additional 1,165 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ivanhoe Electric by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock valued at $5,946,000 after buying an additional 8,023 shares in the last quarter. Intech Investment Management LLC bought a new position in Ivanhoe Electric in the 3rd quarter worth approximately $162,000. Finally, Avior Wealth Management LLC bought a new position in Ivanhoe Electric in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Price Performance

IE stock opened at $9.54 on Friday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -6.00 and a beta of 0.73. 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 one year low of $6.31 and a one year high of $12.98.

Wall Street Analyst Weigh In

IE has been the subject of several analyst reports. Scotiabank cut their target price on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a research note on Monday, August 19th. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th.

Get Our Latest Analysis on IE

About Ivanhoe Electric

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding IE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ivanhoe Electric Inc. (NYSEAMERICAN:IEFree Report).

Institutional Ownership by Quarter for Ivanhoe Electric (NYSEAMERICAN:IE)

Receive News & Ratings for Ivanhoe Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ivanhoe Electric and related companies with MarketBeat.com's FREE daily email newsletter.