Deutsche Bank AG Takes $1.25 Million Position in Ivanhoe Electric Inc. $IE

Key Points

• Deutsche Bank AG acquired 130,017 shares of Ivanhoe Electric during the second quarter, valued at approximately $1.25 million and representing about 0.08% of the company.
• Institutional investors own 79.05% of Ivanhoe Electric, with several funds increasing stakes or initiating new positions during the first and second quarters.
• Ivanhoe Electric recently beat quarterly EPS estimates, reporting $0.16 versus the expected $0.12 loss, while analysts maintain a consensus “Buy” rating with an average price target of $17.83.

Deutsche Bank AG purchased a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 130,017 shares of the company's stock, valued at approximately $1,249,000. Deutsche Bank AG owned about 0.08% of Ivanhoe Electric at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV acquired a new position in Ivanhoe Electric in the 1st quarter worth about $28,000. Tower Research Capital LLC TRC raised its stake in shares of Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company's stock worth $57,000 after purchasing an additional 3,713 shares in the last quarter. Summit Securities Group LLC lifted its holdings in shares of Ivanhoe Electric by 146.5% during the 1st quarter. Summit Securities Group LLC now owns 6,000 shares of the company's stock valued at $71,000 after buying an additional 18,900 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company's stock valued at $73,000 after buying an additional 2,449 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Ivanhoe Electric in the 1st quarter valued at approximately $81,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Ivanhoe Electric Stock Down 4.3%

Shares of Ivanhoe Electric stock opened at $11.19 on Friday. Ivanhoe Electric Inc. has a 12-month low of $7.86 and a 12-month high of $21.55. The stock has a 50 day moving average price of $9.85 and a two-hundred day moving average price of $12.17. The stock has a market capitalization of $1.79 billion, a P/E ratio of -14.16 and a beta of 1.24.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.28. The company had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 3,899.97% and a negative return on equity of 26.29%. Sell-side analysts anticipate that Ivanhoe Electric Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price objective 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 given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $17.83.

Ivanhoe Electric Company 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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