Ivanhoe Electric Inc. $IE Shares Acquired by Goehring & Rozencwajg Associates LLC

Key Points

• Goehring & Rozencwajg Associates LLC increased its stake in Ivanhoe Electric by 18.3% in the first quarter, buying 327,112 additional shares and bringing its total holding to 2,115,009 shares.
• Several other institutional investors also added to their positions, and institutional ownership now stands at 79.05% of Ivanhoe Electric’s stock.
• Analysts remain generally bullish, with a consensus Buy rating and an average price target of $17.62, even though JPMorgan recently cut its target to $20 from $21.

Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 18.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,115,009 shares of the company's stock after buying an additional 327,112 shares during the period. Ivanhoe Electric accounts for approximately 1.3% of Goehring & Rozencwajg Associates LLC's holdings, making the stock its 24th biggest position. Goehring & Rozencwajg Associates LLC owned 1.34% of Ivanhoe Electric worth $24,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 17,896 shares during the period. Rhumbline Advisers raised its position in shares of Ivanhoe Electric by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 121,285 shares of the company's stock worth $1,100,000 after purchasing an additional 8,622 shares during the period. Invesco Ltd. lifted its holdings in shares of Ivanhoe Electric by 3.8% in the 2nd quarter. Invesco Ltd. now owns 33,674 shares of the company's stock worth $305,000 after purchasing an additional 1,247 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Ivanhoe Electric by 33.6% in the 2nd quarter. Sei Investments Co. now owns 112,690 shares of the company's stock worth $1,022,000 after purchasing an additional 28,318 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ivanhoe Electric by 42.3% during 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 purchasing an additional 378,760 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective 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 assigned a Buy rating to the stock. According to data from MarketBeat.com, Ivanhoe Electric has a consensus rating of "Buy" and an average target price of $17.62.

Ivanhoe Electric Price Performance

Shares of Ivanhoe Electric stock opened at $8.65 on Thursday. Ivanhoe Electric Inc. has a 1-year low of $8.44 and a 1-year high of $21.55. The business's fifty day moving average price is $11.40 and its two-hundred day moving average price is $13.83. The company has a market capitalization of $1.37 billion, a P/E ratio of -10.68 and a beta of 1.23.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.90 million. Ivanhoe Electric had a negative return on equity of 29.11% and a negative net margin of 3,477.73%. On average, research analysts expect that Ivanhoe Electric Inc. will post 0.02 earnings per share for the current fiscal year.

Ivanhoe Electric 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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