Old West Investment Management LLC Sells 6,571 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

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

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

Ivanhoe Electric Trading Down 10.4 %

Ivanhoe Electric stock opened at $4.74 on Friday. Ivanhoe Electric Inc. has a 12 month low of $4.50 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 business has a fifty day moving average of $6.13. The company has a market capitalization of $572.45 million, a P/E ratio of -2.98 and a beta of 0.74.

Insider Activity at Ivanhoe Electric

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin acquired 50,000 shares of Ivanhoe Electric stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $5.76 per share, for a total transaction of $288,000.00. Following the acquisition, the chief executive officer now owns 730,753 shares of the company’s stock, valued at $4,209,137.28. This represents a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Graham Richard Thomas Boyd bought 5,000 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $5.83 per share, for a total transaction of $29,150.00. Following the purchase, the vice president now directly owns 11,510 shares in the company, valued at approximately $67,103.30. This trade represents a 76.80 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 75,000 shares of company stock valued at $434,350. 10.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IE shares. JPMorgan Chase & Co. lowered their target price on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Scotiabank lowered 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. Finally, Jefferies Financial Group reduced their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock 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.