Teachers Retirement System of The State of Kentucky Makes New Investment in Ivanhoe Electric Inc. $IE
by Teresa Graham · The Cerbat GemTeachers Retirement System of The State of Kentucky purchased a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 98,372 shares of the company’s stock, valued at approximately $1,572,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Ivanhoe Electric in the fourth quarter worth about $56,000. Tower Research Capital LLC TRC lifted its position in shares of Ivanhoe Electric by 146.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after buying an additional 3,713 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ivanhoe Electric by 43.6% in the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after buying an additional 2,449 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Ivanhoe Electric by 138.1% in the third quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock worth $83,000 after buying an additional 3,717 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Ivanhoe Electric by 352.3% in the third quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after buying an additional 5,450 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
Ivanhoe Electric Stock Down 5.2%
Shares of NYSEAMERICAN:IE opened at $13.14 on Wednesday. The business has a 50 day moving average price of $13.58 and a 200 day moving average price of $14.91. Ivanhoe Electric Inc. has a twelve month low of $5.97 and a twelve month high of $21.55. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -16.63 and a beta of 1.20.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. decreased their target price on Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $17.88.
Read Our Latest Stock Analysis on Ivanhoe Electric
Insider Transactions at Ivanhoe Electric
In other Ivanhoe Electric news, SVP Glen Nickolas Kuntz sold 14,863 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $196,191.60. Following the completion of the transaction, the senior vice president owned 32,768 shares of the company’s stock, valued at $432,537.60. This represents a 31.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jordan Neeser sold 17,123 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $226,023.60. Following the completion of the transaction, the chief financial officer directly owned 84,247 shares of the company’s stock, valued at approximately $1,112,060.40. This trade represents a 16.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 183,912 shares of company stock worth $2,831,321. 12.06% of the stock is currently owned by company insiders.
Ivanhoe Electric Profile
Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.
Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.
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