Ivanhoe Electric Inc. $IE Shares Bought by Kopernik Global Investors LLC

Key Points

• Kopernik Global Investors LLC boosted its stake in Ivanhoe Electric by 316.1% in the first quarter, buying an additional 1.36 million shares and lifting its holding to 1.78 million shares worth about $21.1 million.
• Institutional ownership remains very high, with hedge funds and other investors holding about 79.05% of the stock; several other firms also recently added to or started positions in the company.
• Analysts remain generally positive despite a lower price target from JPMorgan to $20; the stock has a consensus rating of Buy, but Ivanhoe Electric recently reported a wider-than-expected quarterly loss and weak revenue.

Kopernik Global Investors LLC raised its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 316.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,784,170 shares of the company's stock after purchasing an additional 1,355,418 shares during the period. Ivanhoe Electric comprises 1.5% of Kopernik Global Investors LLC's holdings, making the stock its 20th largest position. Kopernik Global Investors LLC owned about 1.13% of Ivanhoe Electric worth $21,089,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IE. KBC Group NV purchased a new position in shares of Ivanhoe Electric during the 1st quarter valued at approximately $28,000. FNY Investment Advisers LLC purchased a new stake in Ivanhoe Electric in the 4th quarter worth $56,000. Tower Research Capital LLC TRC increased its holdings in Ivanhoe Electric by 146.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company's stock worth $57,000 after acquiring an additional 3,713 shares in the last quarter. Summit Securities Group LLC raised its position in Ivanhoe Electric by 146.5% during the first quarter. Summit Securities Group LLC now owns 6,000 shares of the company's stock worth $71,000 after acquiring an additional 18,900 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company's stock worth $73,000 after acquiring an additional 2,449 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Ivanhoe Electric from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $17.62.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN:IE opened at $9.14 on Thursday. The business's 50 day moving average price is $10.82 and its 200-day moving average price is $13.56. The firm has a market capitalization of $1.45 billion, a PE ratio of -11.28 and a beta of 1.23. Ivanhoe Electric Inc. has a 1 year low of $7.86 and a 1 year high of $21.55.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.11). The firm had revenue of $0.86 million during the quarter, compared to analyst estimates of $0.90 million. Ivanhoe Electric had a negative net margin of 3,477.73% and a negative return on equity of 29.11%. As a group, analysts expect that Ivanhoe Electric Inc. will post 0.02 earnings per share for the current year.

About Ivanhoe Electric

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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