Centerpoint Advisors LLC Cuts Stock Position in Ivanhoe Electric Inc. $IE

by · The Cerbat Gem

Centerpoint Advisors LLC lessened its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) by 75.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,850 shares of the company’s stock after selling 15,000 shares during the quarter. Centerpoint Advisors LLC’s holdings in Ivanhoe Electric were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Eagle Global Advisors LLC increased its stake in Ivanhoe Electric by 7.6% in the 2nd quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company’s stock worth $154,000 after buying an additional 1,200 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Ivanhoe Electric by 13.9% during the second quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock valued at $118,000 after purchasing an additional 1,587 shares in the last quarter. Truist Financial Corp grew its position in shares of Ivanhoe Electric by 36.4% during the second quarter. Truist Financial Corp now owns 15,000 shares of the company’s stock valued at $136,000 after purchasing an additional 4,000 shares in the last quarter. Rhumbline Advisers grew its position in shares of Ivanhoe Electric by 5.4% during the first quarter. Rhumbline Advisers now owns 112,663 shares of the company’s stock valued at $655,000 after purchasing an additional 5,740 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after purchasing an additional 8,381 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Down 4.0%

Shares of NYSEAMERICAN:IE opened at $15.25 on Tuesday. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $17.90. The company has a 50-day moving average price of $11.50 and a 200 day moving average price of $9.42. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -23.83 and a beta of 0.98.

Insider Activity at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $8.92, for a total value of $1,195,806.28. Following the completion of the transaction, the vice president owned 194,226 shares of the company’s stock, valued at approximately $1,732,495.92. This trade represents a 40.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.06% of the company’s stock.

Wall Street Analyst Weigh In

IE has been the subject of a number of research analyst reports. National Bank Financial upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Wednesday, September 3rd. Raymond James Financial raised their price objective on Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Cantor Fitzgerald initiated coverage on Ivanhoe Electric in a research report on Thursday, August 21st. They set an “overweight” rating and a $17.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, National Bankshares assumed coverage on Ivanhoe Electric in a research report on Wednesday, September 3rd. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, Ivanhoe Electric has an average rating of “Buy” and an average target price of $14.80.

Get Our Latest Stock Report on IE

Ivanhoe Electric Profile

(Free Report)

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.

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