PEAK6 LLC Makes New $631,000 Investment in Ivanhoe Electric Inc. $IE

PEAK6 LLC bought a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 65,685 shares of the company’s stock, valued at approximately $631,000.

A number of other institutional investors also recently modified their holdings of IE. Goehring & Rozencwajg Associates LLC lifted its position in Ivanhoe Electric by 18.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,115,009 shares of the company’s stock worth $24,999,000 after purchasing an additional 327,112 shares during the period. Kopernik Global Investors LLC lifted its holdings in shares of Ivanhoe Electric by 316.1% during the 1st quarter. Kopernik Global Investors LLC now owns 1,784,170 shares of the company’s stock worth $21,089,000 after acquiring an additional 1,355,418 shares during the period. Bank of America Corp DE boosted its position in shares of Ivanhoe Electric by 535.6% during the 1st quarter. Bank of America Corp DE now owns 1,259,817 shares of the company’s stock worth $14,891,000 after acquiring an additional 1,061,613 shares in the last quarter. MFN Partners Management LP bought a new position in Ivanhoe Electric in the second quarter valued at approximately $24,536,166,000. Finally, Renaissance Technologies LLC bought a new position in Ivanhoe Electric in the first quarter valued at approximately $4,246,000. 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 on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.83.

Ivanhoe Electric Price Performance

Shares of IE opened at $11.27 on Monday. The stock has a market cap of $1.80 billion, a PE ratio of -14.27 and a beta of 1.24. Ivanhoe Electric Inc. has a 12-month low of $7.86 and a 12-month high of $21.55. The business has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $12.36.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.28. Ivanhoe Electric had a negative net margin of 3,899.97% and a negative return on equity of 26.29%. The business had revenue of $0.72 million during the quarter, compared to analyst estimates of $1.00 million. On average, equities research analysts expect that Ivanhoe Electric Inc. will post -0.11 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.