UBS Group AG Sells 117,819 Shares of Ivanhoe Electric Inc. $IE

UBS Group AG lessened its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 40.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,029 shares of the company’s stock after selling 117,819 shares during the period. UBS Group AG owned about 0.12% of Ivanhoe Electric worth $2,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Ivanhoe Electric by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock valued at $105,140,000 after acquiring an additional 1,290,175 shares during the last quarter. Primecap Management Co. CA grew its position in Ivanhoe Electric by 79.6% in the third quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock valued at $35,495,000 after acquiring an additional 1,253,400 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Ivanhoe Electric by 13.6% in the third quarter. Alyeska Investment Group L.P. now owns 2,100,686 shares of the company’s stock valued at $26,364,000 after acquiring an additional 251,361 shares during the last quarter. Legal & General Group Plc grew its position in Ivanhoe Electric by 0.5% in the third quarter. Legal & General Group Plc now owns 1,769,158 shares of the company’s stock valued at $22,203,000 after acquiring an additional 9,247 shares during the last quarter. Finally, Potrero Capital Research LLC bought a new position in Ivanhoe Electric in the third quarter valued at about $17,381,000. Institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their target price on Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.88.

Ivanhoe Electric Stock Performance

NYSEAMERICAN:IE opened at $11.80 on Tuesday. The stock has a market cap of $1.87 billion, a P/E ratio of -14.57 and a beta of 1.16. The stock’s 50-day moving average is $12.88 and its 200-day moving average is $14.65. Ivanhoe Electric Inc. has a 1-year low of $6.69 and a 1-year high of $21.55.

Insider Activity at Ivanhoe Electric

In other news, CFO Jordan Neeser sold 17,123 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.20, for a total transaction of $226,023.60. Following the sale, the chief financial officer directly owned 84,247 shares in the company, valued at approximately $1,112,060.40. The trade was a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Stephani Terhorst sold 6,233 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $82,275.60. Following the sale, the vice president owned 12,466 shares in the company, valued at approximately $164,551.20. This trade represents a 33.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 183,912 shares of company stock valued at $2,831,321. Corporate insiders own 12.06% of the company’s stock.

About Ivanhoe Electric

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.