ExodusPoint Capital Management LP Makes New $633,000 Investment in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

ExodusPoint Capital Management LP purchased a new stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 83,897 shares of the company’s stock, valued at approximately $633,000.

Several other institutional investors also recently modified their holdings of IE. Barclays PLC boosted its holdings in Ivanhoe Electric by 358.9% in the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after purchasing an additional 106,288 shares during the last quarter. State Street Corp boosted its stake in shares of Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after buying an additional 1,558,467 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ivanhoe Electric by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock worth $5,946,000 after acquiring an additional 8,023 shares during the period. Rhumbline Advisers increased its position in Ivanhoe Electric by 6.5% during the fourth quarter. Rhumbline Advisers now owns 106,923 shares of the company’s stock valued at $807,000 after acquiring an additional 6,505 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in Ivanhoe Electric in the fourth quarter valued at about $171,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ivanhoe Electric

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin purchased 50,000 shares of Ivanhoe Electric stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the completion of the transaction, the chief executive officer now owns 730,753 shares of the company’s stock, valued at approximately $4,209,137.28. This trade represents a 7.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jordan Neeser acquired 20,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $5.86 per share, with a total value of $117,200.00. Following the transaction, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $234,400. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 75,000 shares of company stock valued at $434,350. Corporate insiders own 10.50% of the company’s stock.

Ivanhoe Electric Stock Up 7.2 %

Shares of IE opened at $5.36 on Friday. Ivanhoe Electric Inc. has a 12-month low of $4.50 and a 12-month high of $12.98. The business’s 50 day moving average is $5.97 and its 200 day moving average is $7.76. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $647.33 million, a PE ratio of -3.37 and a beta of 0.74.

Analysts Set New Price Targets

IE has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. Scotiabank cut their price objective on 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. Finally, Raymond James set a $15.00 target price on shares of Ivanhoe Electric and gave the stock an “outperform” rating in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.88.

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.