Moore Capital Management LP Buys Shares of 327,417 Ivanhoe Electric Inc. $IE

Moore Capital Management LP purchased a new stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 327,417 shares of the company’s stock, valued at approximately $3,146,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV bought a new position in shares of Ivanhoe Electric in the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC lifted its stake in 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 purchasing an additional 3,713 shares in the last quarter. Summit Securities Group LLC boosted its holdings in Ivanhoe Electric by 146.5% in the 1st quarter. Summit Securities Group LLC now owns 6,000 shares of the company’s stock valued at $71,000 after purchasing an additional 18,900 shares during the period. BNP Paribas Financial Markets boosted its holdings in Ivanhoe Electric by 43.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after purchasing an additional 2,449 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of Ivanhoe Electric during the 1st quarter valued at $81,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN IE opened at $11.06 on Tuesday. Ivanhoe Electric Inc. has a one year low of $7.86 and a one year high of $21.55. The firm’s 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $12.08. 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 (NYSEAMERICAN:IE) last released its earnings results on Friday, August 7th. The company reported $0.16 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%. As a group, equities analysts expect that Ivanhoe Electric Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

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