Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Bought by Vestcor Inc

Vestcor Inc boosted its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,981 shares of the company’s stock after buying an additional 25,700 shares during the period. Vestcor Inc’s holdings in Ivanhoe Electric were worth $2,098,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position 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 period. Old West Investment Management LLC increased its holdings in shares of Ivanhoe Electric by 2.2% in the second quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock valued at $1,495,000 after purchasing an additional 3,369 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Ivanhoe Electric in the third quarter valued at approximately $32,000. nVerses Capital LLC acquired a new position in shares of Ivanhoe Electric in the third quarter valued at approximately $33,000. Finally, Creative Planning increased its holdings in shares of Ivanhoe Electric by 33.9% in the third quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after purchasing an additional 4,644 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Down 7.1 %

Shares of IE stock opened at $8.54 on Wednesday. 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 $1.03 billion, a P/E ratio of -5.37 and a beta of 0.66. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

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

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.