Old West Investment Management LLC Has $1.16 Million Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Old West Investment Management LLC trimmed its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,026 shares of the company’s stock after selling 6,571 shares during the quarter. Old West Investment Management LLC owned about 0.13% of Ivanhoe Electric worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in IE. The Manufacturers Life Insurance Company raised its holdings in Ivanhoe Electric by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company’s stock worth $1,086,000 after buying an additional 1,165 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock valued at $566,000 after acquiring an additional 1,643 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ivanhoe Electric by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company’s stock valued at $5,348,000 after purchasing an additional 5,535 shares during the last quarter. Rhumbline Advisers increased its holdings in Ivanhoe Electric by 6.5% during the 4th quarter. Rhumbline Advisers now owns 106,923 shares of the company’s stock worth $807,000 after purchasing an additional 6,505 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ivanhoe Electric in the fourth quarter worth approximately $80,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $4.74 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 fifty-two week low of $4.50 and a fifty-two week high of $12.98. The company has a market capitalization of $572.45 million, a PE ratio of -2.98 and a beta of 0.74. The stock has a fifty day moving average price of $6.13.

Insiders Place Their Bets

In other Ivanhoe Electric news, CFO Jordan Neeser acquired 20,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $5.86 per share, for a total transaction of $117,200.00. Following the acquisition, the chief financial officer now owns 40,000 shares in the company, valued at $234,400. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph Taylor Melvin bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the transaction, the chief executive officer now owns 730,753 shares in the company, valued at $4,209,137.28. This trade represents a 7.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 75,000 shares of company stock valued at $434,350 in the last quarter. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on IE. JPMorgan Chase & Co. reduced their target price on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group decreased their target price 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. Finally, Scotiabank reduced their price target on shares of 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.

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.