SailingStone Capital Partners LLC Reduces Stake in Ivanhoe Electric Inc. $IE

SailingStone Capital Partners LLC trimmed its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 27.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,781,417 shares of the company’s stock after selling 1,395,966 shares during the quarter. Ivanhoe Electric accounts for 15.1% of SailingStone Capital Partners LLC’s portfolio, making the stock its 2nd biggest holding. SailingStone Capital Partners LLC owned about 2.61% of Ivanhoe Electric worth $60,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IE. FNY Investment Advisers LLC purchased a new position in shares of Ivanhoe Electric in the fourth quarter worth $56,000. Tower Research Capital LLC TRC raised its stake in shares of Ivanhoe Electric by 146.0% in the second 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 during the last quarter. IFP Advisors Inc raised its stake in shares of Ivanhoe Electric by 138.1% in the third quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock worth $83,000 after purchasing an additional 3,717 shares during the last quarter. Comerica Bank raised its stake in shares of Ivanhoe Electric by 352.3% in the third quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after purchasing an additional 5,450 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Ivanhoe Electric by 43.6% in the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after purchasing an additional 2,449 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Stock Performance

NYSEAMERICAN:IE opened at $11.53 on Wednesday. The stock has a 50-day simple moving average of $13.08 and a two-hundred day simple moving average of $14.61. Ivanhoe Electric Inc. has a 52-week low of $7.72 and a 52-week high of $21.55. The firm has a market capitalization of $1.83 billion, a PE ratio of -14.23 and a beta of 1.15.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Ivanhoe Electric has an average rating of “Buy” and a consensus price target of $17.88.

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.