Jennison Associates LLC Trims Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Jennison Associates LLC lessened its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 669,137 shares of the company’s stock after selling 3,727 shares during the quarter. Jennison Associates LLC owned approximately 0.56% of Ivanhoe Electric worth $5,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IE. Avior Wealth Management LLC purchased a new position in shares of Ivanhoe Electric during the 3rd quarter worth $32,000. nVerses Capital LLC acquired a new position in Ivanhoe Electric in the third quarter valued at $33,000. Principal Financial Group Inc. purchased a new position in Ivanhoe Electric during the second quarter worth about $106,000. ProShare Advisors LLC boosted its stake in Ivanhoe Electric by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after buying an additional 1,043 shares during the last quarter. Finally, Creative Planning grew its holdings in Ivanhoe Electric by 33.9% in the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after buying an additional 4,644 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IE. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank lowered their price target on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a research report on Monday, August 19th.

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock opened at $9.59 on Friday. Ivanhoe Electric Inc. has a 1-year low of $6.31 and a 1-year high of $12.98. The stock has a market cap of $1.16 billion, a PE ratio of -6.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

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.