PDT Partners LLC Takes $1.12 Million Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

PDT Partners LLC acquired a new position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 132,576 shares of the company’s stock, valued at approximately $1,122,000. PDT Partners LLC owned about 0.11% of Ivanhoe Electric at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Ivanhoe Electric by 6.7% in the first quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock valued at $6,689,000 after acquiring an additional 42,843 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ivanhoe Electric by 51.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock worth $2,746,000 after purchasing an additional 99,106 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Ivanhoe Electric during the 2nd quarter worth $106,000. Rhumbline Advisers increased its position in Ivanhoe Electric by 34.8% during the 2nd quarter. Rhumbline Advisers now owns 104,179 shares of the company’s stock valued at $977,000 after buying an additional 26,909 shares in the last quarter. Finally, Old West Investment Management LLC raised its stake in Ivanhoe Electric by 2.2% in the second quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock valued at $1,495,000 after buying an additional 3,369 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IE. Scotiabank cut their price target on shares of Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Trading Up 3.0 %

Shares of Ivanhoe Electric stock opened at $9.51 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. Ivanhoe Electric Inc. has a fifty-two week low of $6.31 and a fifty-two week high of $12.98. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -5.98 and a beta of 0.73.

Ivanhoe Electric Company 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.