Goehring & Rozencwajg Associates LLC grew its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,787,897 shares of the company’s stock after acquiring an additional 90,708 shares during the quarter. Ivanhoe Electric makes up approximately 2.7% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 15th largest position. Goehring & Rozencwajg Associates LLC’s holdings in Ivanhoe Electric were worth $28,571,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in IE. Potrero Capital Research LLC bought a new stake in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $17,381,000. Vanguard Group Inc. increased its holdings in shares of Ivanhoe Electric by 24.4% in the 4th 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 increased its holdings in shares of Ivanhoe Electric by 79.6% in the 3rd 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. Van ECK Associates Corp bought a new stake in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $11,274,000. Finally, Wellington Management Group LLP bought a new stake in shares of Ivanhoe Electric in the 3rd quarter valued at approximately $9,125,000. 79.05% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. lowered their price target on Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.88.
Ivanhoe Electric Trading Up 1.9%
Shares of NYSEAMERICAN IE opened at $11.03 on Friday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -13.62 and a beta of 1.15. The business has a 50 day simple moving average of $13.11 and a 200-day simple moving average of $14.61. Ivanhoe Electric Inc. has a twelve month low of $7.72 and a twelve month high of $21.55.
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.
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