Moore Capital Management LP bought a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 327,417 shares of the company's stock, valued at approximately $3,146,000. Moore Capital Management LP owned approximately 0.21% of Ivanhoe Electric at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its position in shares of Ivanhoe Electric by 1.6% during the second quarter. Alyeska Investment Group L.P. now owns 6,858,654 shares of the company's stock valued at $65,912,000 after purchasing an additional 109,589 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ivanhoe Electric by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,717 shares of the company's stock valued at $1,660,000 after buying an additional 9,872 shares during the last quarter. Wellington Management Group LLP increased its stake in Ivanhoe Electric by 24.2% in the 2nd quarter. Wellington Management Group LLP now owns 7,038,087 shares of the company's stock valued at $67,636,000 after buying an additional 1,371,303 shares during the last quarter. Impala Asset Management LLC bought a new position in shares of Ivanhoe Electric during the 2nd quarter worth approximately $1,345,000. Finally, Formula Growth Ltd. purchased a new position in shares of Ivanhoe Electric in the 2nd quarter worth approximately $611,000. Hedge funds and other institutional investors own 79.05% of the company's stock.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. decreased their price target on Ivanhoe Electric from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Ivanhoe Electric has a consensus rating of "Buy" and an average price target of $17.83.
View Our Latest Research Report on Ivanhoe Electric
Ivanhoe Electric Stock Performance
Shares of Ivanhoe Electric stock opened at $11.06 on Tuesday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -14.00 and a beta of 1.24. Ivanhoe Electric Inc. has a 52-week low of $7.86 and a 52-week high of $21.55. The stock's 50-day simple moving average is $9.85 and its 200 day simple moving average is $12.08.
Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities research analysts forecast that Ivanhoe Electric Inc. will post -0.11 EPS for the current fiscal year.
About Ivanhoe Electric
(
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.
Featured Stories
Want to see what other hedge funds are holding IE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Ivanhoe Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ivanhoe Electric wasn't on the list.
While Ivanhoe Electric currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
