Impala Asset Management LLC Takes Position in Ivanhoe Electric Inc. $IE

Impala Asset Management LLC bought a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 140,000 shares of the company’s stock, valued at approximately $1,345,000. Ivanhoe Electric comprises approximately 0.8% of Impala Asset Management LLC’s holdings, making the stock its 13th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Ivanhoe Electric during the second quarter worth approximately $146,309,000. Price T Rowe Associates Inc. MD lifted its holdings in Ivanhoe Electric by 114.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,671,551 shares of the company’s stock valued at $202,493,000 after purchasing an additional 6,761,857 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in Ivanhoe Electric by 259.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company’s stock worth $120,686,000 after purchasing an additional 5,451,646 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ivanhoe Electric by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock worth $105,140,000 after buying an additional 1,290,175 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Ivanhoe Electric by 16.1% during the fourth quarter. State Street Corp now owns 6,451,563 shares of the company’s stock worth $103,096,000 after buying an additional 895,102 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Ivanhoe Electric Price Performance

IE stock opened at $11.69 on Friday. The business has a 50 day simple moving average of $9.86 and a 200-day simple moving average of $12.18. The firm has a market capitalization of $1.87 billion, a PE ratio of -14.80 and a beta of 1.24. Ivanhoe Electric Inc. has a 1 year low of $7.86 and a 1 year high of $21.55.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.28. The firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative return on equity of 26.29% and a negative net margin of 3,899.97%. On average, equities research analysts expect that Ivanhoe Electric Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $17.83.

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.