SailingStone Capital Partners LLC Has $40.32 Million Stock Position in Ivanhoe Electric Inc. $IE

SailingStone Capital Partners LLC increased its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IEFree Report) by 37.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,195,373 shares of the company’s stock after buying an additional 1,146,899 shares during the quarter. Ivanhoe Electric accounts for about 7.8% of SailingStone Capital Partners LLC’s portfolio, making the stock its 6th largest position. SailingStone Capital Partners LLC owned approximately 2.63% of Ivanhoe Electric worth $40,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IE. BlackRock Inc. acquired a new position in shares of Ivanhoe Electric during the second quarter valued at about $146,309,000. Price T Rowe Associates Inc. MD boosted its stake in Ivanhoe Electric by 114.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,671,551 shares of the company’s stock worth $202,493,000 after purchasing an additional 6,761,857 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Ivanhoe Electric by 259.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company’s stock worth $120,686,000 after purchasing an additional 5,451,646 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Ivanhoe Electric during the 2nd quarter worth approximately $32,946,000. Finally, MFN Partners Management LP acquired a new position in Ivanhoe Electric during the 2nd quarter valued at approximately $24,536,166. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price target on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $17.83.

Read Our Latest Analysis on IE

Ivanhoe Electric Price Performance

IE stock opened at $10.90 on Thursday. The company has a market capitalization of $1.74 billion, a P/E ratio of -13.80 and a beta of 1.26. Ivanhoe Electric Inc. has a 12 month low of $7.86 and a 12 month high of $21.55. The firm’s fifty day simple moving average is $9.96 and its 200-day simple moving average is $11.81.

Ivanhoe Electric (NYSEAMERICAN:IEGet Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.28. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.00 million. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%. As a group, sell-side analysts forecast that Ivanhoe Electric Inc. will post -0.11 earnings per share for the current year.

About Ivanhoe Electric

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ivanhoe Electric (NYSEAMERICAN:IE)

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