FNY Investment Advisers LLC Sells 20,100 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

FNY Investment Advisers LLC trimmed its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 48.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,000 shares of the company’s stock after selling 20,100 shares during the quarter. FNY Investment Advisers LLC’s holdings in Ivanhoe Electric were worth $158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IE. JPMorgan Chase & Co. increased its stake in Ivanhoe Electric by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after purchasing an additional 1,643 shares during the period. Tidal Investments LLC raised its holdings in Ivanhoe Electric by 14.5% during the 3rd quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock valued at $3,098,000 after buying an additional 46,345 shares during the last quarter. Barclays PLC boosted its position in Ivanhoe Electric by 358.9% during the 3rd quarter. Barclays PLC now owns 135,903 shares of the company’s stock valued at $1,150,000 after buying an additional 106,288 shares during the period. Vestcor Inc raised its stake in shares of Ivanhoe Electric by 11.6% during the third quarter. Vestcor Inc now owns 247,981 shares of the company’s stock valued at $2,098,000 after acquiring an additional 25,700 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Ivanhoe Electric by 94.5% during the third 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 during the period. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

NYSEAMERICAN IE opened at $6.83 on Wednesday. The company has a market cap of $822.74 million, a P/E ratio of -4.30 and a beta of 0.66. Ivanhoe Electric Inc. has a twelve month low of $6.31 and a twelve month high of $12.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Scotiabank decreased 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 note 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.