Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 532,570 shares of the company’s stock after selling 10,531 shares during the period. Jennison Associates LLC’s holdings in Ivanhoe Electric were worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of IE. Avior Wealth Management LLC grew its position in shares of Ivanhoe Electric by 39.4% during the 3rd quarter. Avior Wealth Management LLC now owns 5,726 shares of the company’s stock valued at $68,000 after acquiring an additional 1,617 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Ivanhoe Electric by 118.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock valued at $73,000 after purchasing an additional 3,307 shares during the period. Barclays PLC increased its position in shares of Ivanhoe Electric by 21.3% in the third quarter. Barclays PLC now owns 23,643 shares of the company’s stock valued at $281,000 after buying an additional 4,154 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ivanhoe Electric by 48.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,779 shares of the company’s stock worth $176,000 after buying an additional 4,836 shares during the period. Finally, Spartan Fund Management Inc. purchased a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock opened at $10.68 on Friday. Ivanhoe Electric Inc. has a 12 month low of $7.29 and a 12 month high of $16.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.45 and a quick ratio of 5.32.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.09). Ivanhoe Electric had a negative net margin of 3,259.77% and a negative return on equity of 46.23%. The firm had revenue of $1.67 million during the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts predict that Ivanhoe Electric Inc. will post -1.15 EPS for the current year.

Insider Activity

In related news, VP Graham Richard Thomas Boyd purchased 4,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was acquired at an average cost of $7.44 per share, for a total transaction of $29,760.00. Following the completion of the transaction, the vice president now directly owns 6,510 shares of the company’s stock, valued at $48,434.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 12.50% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank cut their price target on shares of Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating for the company in a report on Tuesday, April 9th.

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.