Bank of America Corp DE boosted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 535.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,259,817 shares of the company's stock after buying an additional 1,061,613 shares during the quarter. Bank of America Corp DE owned approximately 0.80% of Ivanhoe Electric worth $14,891,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in IE. Price T Rowe Associates Inc. MD grew its stake in shares of Ivanhoe Electric by 114.4% during 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 acquiring an additional 6,761,857 shares during the period. Alyeska Investment Group L.P. raised its stake in Ivanhoe Electric by 259.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company's stock valued at $120,686,000 after acquiring an additional 5,451,646 shares during the period. Vanguard Group Inc. lifted its holdings in Ivanhoe Electric by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company's stock valued at $105,140,000 after purchasing an additional 1,290,175 shares during the last quarter. State Street Corp boosted its position in Ivanhoe Electric by 16.1% during the fourth quarter. State Street Corp now owns 6,451,563 shares of the company's stock worth $103,096,000 after purchasing an additional 895,102 shares during the period. Finally, Primecap Management Co. CA boosted its position in Ivanhoe Electric by 8.0% during the fourth quarter. Primecap Management Co. CA now owns 3,054,884 shares of the company's stock worth $48,817,000 after purchasing an additional 226,600 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.
Ivanhoe Electric Stock Performance
Shares of NYSEAMERICAN IE opened at $10.29 on Friday. Ivanhoe Electric Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $21.55. The stock has a market cap of $1.64 billion, a PE ratio of -13.03 and a beta of 1.24. The stock has a fifty day moving average of $9.83 and a 200-day moving average of $12.41.
Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.28. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%.The business had revenue of $0.72 million for the quarter, compared to analysts' expectations of $1.00 million. On average, sell-side analysts predict that Ivanhoe Electric Inc. will post -0.11 EPS for the current year.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. lowered their price target on shares of Ivanhoe Electric from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $17.83.
Check Out Our Latest Stock Analysis on IE
Ivanhoe Electric Company Profile
(
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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