Invst LLC Purchases New Shares in Ivanhoe Electric Inc. $IE

Invst LLC purchased a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 132,817 shares of the company’s stock, valued at approximately $1,276,000. Invst LLC owned approximately 0.08% of Ivanhoe Electric at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IE. JPMorgan Chase & Co. lifted its stake in Ivanhoe Electric by 24.9% during the second quarter. JPMorgan Chase & Co. now owns 89,686 shares of the company’s stock valued at $813,000 after buying an additional 17,896 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ivanhoe Electric by 7.7% in the second quarter. Rhumbline Advisers now owns 121,285 shares of the company’s stock worth $1,100,000 after buying an additional 8,622 shares during the period. Invesco Ltd. increased its position in shares of Ivanhoe Electric by 3.8% in the second quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after acquiring an additional 1,247 shares in the last quarter. Sei Investments Co. increased its position in shares of Ivanhoe Electric by 33.6% in the second quarter. Sei Investments Co. now owns 112,690 shares of the company’s stock worth $1,022,000 after acquiring an additional 28,318 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ivanhoe Electric by 42.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,274,628 shares of the company’s stock valued at $12,273,000 after acquiring an additional 378,760 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Trading Up 5.8%

Shares of IE stock opened at $11.91 on Wednesday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -15.08 and a beta of 1.24. Ivanhoe Electric Inc. has a 1-year low of $7.86 and a 1-year high of $21.55. The stock’s fifty day simple moving average is $9.84 and its 200-day simple moving average is $12.25.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.28. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%.The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.00 million. On average, sell-side analysts predict that Ivanhoe Electric Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price target on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Ivanhoe Electric currently has an average rating of “Buy” and an average price target of $17.83.

Ivanhoe Electric Profile

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.