63,543 Shares in Ivanhoe Electric Inc. $IE Purchased by PDT Partners LLC

PDT Partners LLC acquired a new position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the second quarter, HoldingsChannel reports. The fund acquired 63,543 shares of the company’s stock, valued at approximately $611,000.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Ivanhoe Electric during the second quarter valued at approximately $146,309,000. Price T Rowe Associates Inc. MD boosted its position in Ivanhoe Electric by 114.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,671,551 shares of the company’s stock valued at $202,493,000 after buying an additional 6,761,857 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Ivanhoe Electric by 259.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company’s stock valued at $120,686,000 after buying an additional 5,451,646 shares during the period. Vanguard Group Inc. raised its position in shares of Ivanhoe Electric by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock worth $105,140,000 after acquiring an additional 1,290,175 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Ivanhoe Electric by 16.1% during the fourth quarter. State Street Corp now owns 6,451,563 shares of the company’s stock valued at $103,096,000 after acquiring an additional 895,102 shares during the period. 79.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price objective 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 research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.83.

Ivanhoe Electric Trading Down 2.0%

NYSEAMERICAN:IE opened at $11.69 on Friday. Ivanhoe Electric Inc. has a 1-year low of $7.86 and a 1-year high of $21.55. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -14.80 and a beta of 1.24. The business’s 50-day moving average price is $9.86 and its two-hundred day moving average price is $12.18.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.16 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.00 million. Sell-side analysts predict that Ivanhoe Electric Inc. will post -0.11 earnings per share 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.