Kopernik Global Investors LLC grew its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) by 316.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,784,170 shares of the company’s stock after purchasing an additional 1,355,418 shares during the quarter. Ivanhoe Electric comprises approximately 1.5% of Kopernik Global Investors LLC’s portfolio, making the stock its 20th largest holding. Kopernik Global Investors LLC’s holdings in Ivanhoe Electric were worth $21,089,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew 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 purchasing an additional 17,896 shares in the last quarter. Rhumbline Advisers boosted its stake in Ivanhoe Electric by 7.7% during 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 last quarter. Invesco Ltd. boosted its stake in Ivanhoe Electric by 3.8% during the second quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after buying an additional 1,247 shares during the last quarter. Sei Investments Co. grew its holdings in Ivanhoe Electric by 33.6% in the 2nd quarter. Sei Investments Co. now owns 112,690 shares of the company’s stock valued at $1,022,000 after buying an additional 28,318 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ivanhoe Electric by 42.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,274,628 shares of the company’s stock valued at $12,273,000 after buying an additional 378,760 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. cut their target price on 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 investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $17.62.
Ivanhoe Electric Stock Down 2.7%
NYSEAMERICAN:IE opened at $9.14 on Thursday. Ivanhoe Electric Inc. has a 52 week low of $7.86 and a 52 week high of $21.55. The stock’s fifty day moving average is $10.82 and its two-hundred day moving average is $13.56. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -11.28 and a beta of 1.23.
Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.11). Ivanhoe Electric had a negative net margin of 3,477.73% and a negative return on equity of 29.11%. The firm had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $0.90 million. On average, sell-side analysts expect that Ivanhoe Electric Inc. will post 0.02 EPS for the current fiscal year.
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.
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