Marex Group plc Invests $680,000 in Ivanhoe Electric Inc. $IE

Marex Group plc bought a new stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,000 shares of the company’s stock, valued at approximately $680,000.

A number of other large investors also recently bought and sold shares of IE. Legal & General Group Plc grew its stake in Ivanhoe Electric by 44.5% in the 2nd quarter. Legal & General Group Plc now owns 1,759,911 shares of the company’s stock valued at $15,962,000 after acquiring an additional 541,719 shares during the period. Vanguard Group Inc. raised its position in Ivanhoe Electric by 10.7% during the first quarter. Vanguard Group Inc. now owns 5,137,785 shares of the company’s stock worth $29,851,000 after acquiring an additional 496,058 shares during the period. Invst LLC purchased a new position in Ivanhoe Electric during the first quarter valued at $1,302,000. Kopernik Global Investors LLC lifted its holdings in Ivanhoe Electric by 2.2% during the second quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock valued at $30,952,000 after purchasing an additional 72,376 shares in the last quarter. Finally, Formula Growth Ltd. grew its position in shares of Ivanhoe Electric by 187.8% in the second quarter. Formula Growth Ltd. now owns 247,934 shares of the company’s stock valued at $2,249,000 after purchasing an additional 161,774 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IE. National Bank Financial upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Wednesday, September 3rd. National Bankshares initiated coverage on Ivanhoe Electric in a report on Wednesday, September 3rd. They set an “outperform” rating for the company. Raymond James Financial lifted their price target on Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. Finally, Cantor Fitzgerald assumed coverage on Ivanhoe Electric in a report on Thursday, August 21st. They issued an “overweight” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.70.

Ivanhoe Electric Trading Down 6.5%

Shares of Ivanhoe Electric stock opened at $14.88 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $14.09 and its 200-day simple moving average is $11.14. The stock has a market cap of $2.15 billion, a P/E ratio of -36.29 and a beta of 1.00. Ivanhoe Electric Inc. has a 1-year low of $4.50 and a 1-year high of $17.90.

About Ivanhoe Electric

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.