Euro Pacific Asset Management LLC Purchases 18,335 Shares of Ivanhoe Electric Inc. $IE

Euro Pacific Asset Management LLC boosted its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 481,681 shares of the company’s stock after acquiring an additional 18,335 shares during the period. Euro Pacific Asset Management LLC’s holdings in Ivanhoe Electric were worth $4,385,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Ivanhoe Electric by 456.9% in the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company’s stock worth $65,000 after purchasing an additional 9,119 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Ivanhoe Electric in the 1st quarter worth approximately $67,000. Eagle Global Advisors LLC grew its stake in Ivanhoe Electric by 19.7% in the 1st quarter. Eagle Global Advisors LLC now owns 15,800 shares of the company’s stock valued at $92,000 after buying an additional 2,600 shares in the last quarter. Ballentine Partners LLC bought a new stake in Ivanhoe Electric during the 2nd quarter valued at $93,000. Finally, Ameriprise Financial Inc. bought a new stake in Ivanhoe Electric during the 4th quarter valued at $104,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $8.92, for a total value of $1,195,806.28. Following the transaction, the vice president owned 194,226 shares of the company’s stock, valued at $1,732,495.92. This represents a 40.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IE has been the subject of several recent research reports. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, June 24th. National Bankshares initiated coverage on Ivanhoe Electric in a report on Wednesday, September 3rd. They set an “outperform” rating on the stock. Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating and set a $15.00 target price for the company in a report on Monday, June 30th. JPMorgan Chase & Co. upped their price target on Ivanhoe Electric from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Finally, National Bank Financial upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $14.00.

Ivanhoe Electric Stock Up 1.3%

IE stock opened at $12.44 on Monday. The company’s 50 day moving average is $9.79 and its 200 day moving average is $8.37. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -19.44 and a beta of 0.98. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. Ivanhoe Electric Inc. has a 1-year low of $4.50 and a 1-year high of $13.25.

Ivanhoe Electric Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.