63,543 Shares in Ivanhoe Electric Inc. $IE Bought by PDT Partners LLC

PDT Partners LLC purchased a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 63,543 shares of the company’s stock, valued at approximately $611,000.

Several other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of Ivanhoe Electric by 24.9% in the second quarter. JPMorgan Chase & Co. now owns 89,686 shares of the company’s stock valued at $813,000 after acquiring an additional 17,896 shares during the period. Rhumbline Advisers raised its stake in Ivanhoe Electric by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 121,285 shares of the company’s stock valued at $1,100,000 after purchasing an additional 8,622 shares during the last quarter. Invesco Ltd. boosted its holdings in Ivanhoe Electric by 3.8% in the 2nd quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock valued at $305,000 after purchasing an additional 1,247 shares during the period. Sei Investments Co. grew its position in Ivanhoe Electric by 33.6% in the 2nd quarter. Sei Investments Co. now owns 112,690 shares of the company’s stock worth $1,022,000 after purchasing an additional 28,318 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ivanhoe Electric by 42.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,274,628 shares of the company’s stock worth $12,273,000 after purchasing an additional 378,760 shares during the period. 79.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their target price on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.83.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock opened at $11.69 on Friday. The firm has a market capitalization of $1.87 billion, a P/E ratio of -14.80 and a beta of 1.24. The stock has a fifty day moving average price of $9.86 and a two-hundred day moving average price of $12.18. Ivanhoe Electric Inc. has a 52-week low of $7.86 and a 52-week high of $21.55.

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

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.