Impala Asset Management LLC Invests $1.34 Million in Ivanhoe Electric Inc. $IE

Impala Asset Management LLC bought a new position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 140,000 shares of the company’s stock, valued at approximately $1,345,000. Ivanhoe Electric accounts for approximately 0.8% of Impala Asset Management LLC’s portfolio, making the stock its 13th largest holding. Impala Asset Management LLC owned about 0.09% of Ivanhoe Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ivanhoe Electric by 3.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,657 shares of the company’s stock worth $441,000 after purchasing an additional 957 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ivanhoe Electric by 3.8% during the 2nd quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after purchasing an additional 1,247 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Ivanhoe Electric by 1.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,248 shares of the company’s stock valued at $1,924,000 after purchasing an additional 1,536 shares in the last quarter. KBC Group NV purchased a new position in shares of Ivanhoe Electric during the 1st quarter valued at approximately $28,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of 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. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price target on shares of Ivanhoe Electric from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.83.

Ivanhoe Electric Stock Down 2.0%

Shares of Ivanhoe Electric stock opened at $11.69 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of -14.80 and a beta of 1.24. Ivanhoe Electric Inc. has a twelve month low of $7.86 and a twelve month high of $21.55. The business has a 50-day moving average price of $9.86 and a 200 day moving average price of $12.18.

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

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.