Vestcor Inc Grows Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Vestcor Inc grew its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,981 shares of the company’s stock after purchasing an additional 25,700 shares during the period. Vestcor Inc owned about 0.21% of Ivanhoe Electric worth $2,098,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its position in Ivanhoe Electric by 94.5% in the 3rd 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 in the last quarter. Mak Capital One LLC lifted its position in shares of Ivanhoe Electric by 21.6% during the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after buying an additional 316,903 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Ivanhoe Electric by 13.9% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after buying an additional 199,400 shares in the last quarter. Raffles Associates LP lifted its position in shares of Ivanhoe Electric by 70.0% during the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock valued at $9,400,000 after buying an additional 457,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IE shares. Scotiabank decreased their target price on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 19th. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th.

Ivanhoe Electric Stock Down 7.1 %

Shares of IE opened at $8.54 on Wednesday. Ivanhoe Electric Inc. has a 52-week low of $6.31 and a 52-week high of $12.98. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.37 and a beta of 0.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

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.