SailingStone Capital Partners LLC Has $60.43 Million Position in Ivanhoe Electric Inc. $IE

SailingStone Capital Partners LLC cut its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 27.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,781,417 shares of the company’s stock after selling 1,395,966 shares during the period. Ivanhoe Electric comprises approximately 15.1% of SailingStone Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. SailingStone Capital Partners LLC’s holdings in Ivanhoe Electric were worth $60,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IE. Alyeska Investment Group L.P. raised its holdings in shares of Ivanhoe Electric by 259.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company’s stock worth $120,686,000 after buying an additional 5,451,646 shares during the period. Potrero Capital Research LLC bought a new stake in Ivanhoe Electric during the 3rd quarter valued at $17,381,000. Vanguard Group Inc. boosted its position in shares of Ivanhoe Electric by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock worth $105,140,000 after purchasing an additional 1,290,175 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Ivanhoe Electric by 79.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock worth $35,495,000 after purchasing an additional 1,253,400 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of Ivanhoe Electric in the 3rd quarter worth $11,274,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $11.53 on Wednesday. The business’s 50-day simple moving average is $13.08 and its two-hundred day simple moving average is $14.61. The company has a market cap of $1.83 billion, a PE ratio of -14.23 and a beta of 1.15. Ivanhoe Electric Inc. has a fifty-two week low of $7.72 and a fifty-two week high of $21.55.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price objective on Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. One equities research 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, the company has an average rating of “Buy” and an average price target of $17.88.

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.