Ivanhoe Electric Inc. $IE Stake Lifted by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC lifted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 18.3% during the first quarter, Holdings Channel.com reports. The fund owned 2,115,009 shares of the company’s stock after purchasing an additional 327,112 shares during the period. Ivanhoe Electric accounts for about 1.3% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 24th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Ivanhoe Electric were worth $24,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Ivanhoe Electric during the 4th quarter valued at $56,000. Tower Research Capital LLC TRC raised its stake in shares of 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 buying an additional 3,713 shares in the last quarter. Summit Securities Group LLC raised its stake in shares of Ivanhoe Electric by 146.5% in the 1st quarter. Summit Securities Group LLC now owns 6,000 shares of the company’s stock worth $71,000 after buying an additional 18,900 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ivanhoe Electric by 43.6% in the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after buying an additional 2,449 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Ivanhoe Electric in the first quarter valued at $81,000. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their target price on Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.62.

Ivanhoe Electric Stock Down 5.7%

Shares of Ivanhoe Electric stock opened at $8.65 on Thursday. Ivanhoe Electric Inc. has a 12-month low of $8.44 and a 12-month high of $21.55. The firm has a market capitalization of $1.37 billion, a PE ratio of -10.68 and a beta of 1.23. The stock’s fifty day moving average is $11.40 and its 200-day moving average is $13.83.

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

Ivanhoe Electric Company 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.