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

Moore Capital Management LP bought a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 327,417 shares of the company’s stock, valued at approximately $3,146,000. Moore Capital Management LP owned approximately 0.21% of Ivanhoe Electric at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its position in shares of Ivanhoe Electric by 1.6% during the second quarter. Alyeska Investment Group L.P. now owns 6,858,654 shares of the company’s stock valued at $65,912,000 after purchasing an additional 109,589 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ivanhoe Electric by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,717 shares of the company’s stock valued at $1,660,000 after buying an additional 9,872 shares during the last quarter. Wellington Management Group LLP increased its stake in Ivanhoe Electric by 24.2% in the 2nd quarter. Wellington Management Group LLP now owns 7,038,087 shares of the company’s stock valued at $67,636,000 after buying an additional 1,371,303 shares during the last quarter. Impala Asset Management LLC bought a new position in shares of Ivanhoe Electric during the 2nd quarter worth approximately $1,345,000. Finally, Formula Growth Ltd. purchased a new position in shares of Ivanhoe Electric in the 2nd quarter worth approximately $611,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

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

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock opened at $11.06 on Tuesday. 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 Inc. has a 52-week low of $7.86 and a 52-week high of $21.55. The stock’s 50-day simple moving average is $9.85 and its 200 day simple moving average is $12.08.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.16 earnings per share (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%. Equities research analysts forecast that Ivanhoe Electric Inc. will post -0.11 EPS for the current fiscal year.

About Ivanhoe Electric

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.