Olympiad Research LP Makes New $356,000 Investment in Ivanhoe Electric Inc. $IE

Olympiad Research LP acquired a new position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,380 shares of the company’s stock, valued at approximately $356,000.

A number of other hedge funds also recently modified their holdings of IE. Ballentine Partners LLC acquired a new position in shares of Ivanhoe Electric in the 2nd quarter valued at approximately $93,000. Eagle Global Advisors LLC raised its stake in shares of Ivanhoe Electric by 7.6% in the 2nd quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company’s stock valued at $154,000 after purchasing an additional 1,200 shares during the period. Truist Financial Corp lifted its holdings in shares of Ivanhoe Electric by 36.4% in the second quarter. Truist Financial Corp now owns 15,000 shares of the company’s stock valued at $136,000 after purchasing an additional 4,000 shares in the last quarter. Euro Pacific Asset Management LLC boosted its position in shares of Ivanhoe Electric by 4.0% during the second quarter. Euro Pacific Asset Management LLC now owns 481,681 shares of the company’s stock worth $4,097,000 after buying an additional 18,335 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Ivanhoe Electric by 67.9% during the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the company’s stock worth $209,000 after buying an additional 9,300 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity at Ivanhoe Electric

In related news, insider Quentin Markin sold 90,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $16.34, for a total value of $1,470,600.00. Following the transaction, the insider owned 728,493 shares in the company, valued at approximately $11,903,575.62. This represents a 11.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.06% of the company’s stock.

Analyst Ratings Changes

IE has been the topic of a number of recent research reports. Raymond James Financial lifted their price objective on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, Ivanhoe Electric has a consensus rating of “Buy” and an average price target of $18.13.

Ivanhoe Electric Trading Down 0.2%

IE stock opened at $17.95 on Thursday. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $18.70. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -43.78 and a beta of 0.98. The company has a fifty day moving average price of $15.22 and a two-hundred day moving average price of $12.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.41 and a quick ratio of 1.41.

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.