Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Holdings Decreased by Jennison Associates LLC

Jennison Associates LLC cut its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 669,137 shares of the company’s stock after selling 3,727 shares during the quarter. Jennison Associates LLC’s holdings in Ivanhoe Electric were worth $5,661,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mak Capital One LLC boosted its stake in 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. Tidal Investments LLC boosted its position in Ivanhoe Electric by 432.6% during the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after purchasing an additional 244,341 shares during the period. Goehring & Rozencwajg Associates LLC boosted its position in 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 purchasing an additional 199,400 shares during the period. Old West Investment Management LLC grew its stake in Ivanhoe Electric by 62.9% during the 3rd quarter. Old West Investment Management LLC now owns 259,597 shares of the company’s stock worth $2,196,000 after buying an additional 100,265 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Ivanhoe Electric by 51.2% in the second quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock valued at $2,746,000 after buying an additional 99,106 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Ivanhoe Electric Stock Up 1.2 %

Shares of Ivanhoe Electric stock opened at $9.59 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. Ivanhoe Electric Inc. has a 1-year low of $6.31 and a 1-year high of $12.98. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -6.05 and a beta of 0.73.

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.