Euro Pacific Asset Management LLC Grows Stock Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Euro Pacific Asset Management LLC boosted its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 15.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 191,180 shares of the company’s stock after purchasing an additional 25,708 shares during the period. Euro Pacific Asset Management LLC’s holdings in Ivanhoe Electric were worth $1,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Ivanhoe Electric by 358.9% in the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock valued at $1,150,000 after purchasing an additional 106,288 shares during the period. State Street Corp lifted its holdings in shares of Ivanhoe Electric by 94.5% during the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares during the period. Intech Investment Management LLC purchased a new position in Ivanhoe Electric in the 3rd quarter valued at $162,000. SG Americas Securities LLC acquired a new position in Ivanhoe Electric in the 3rd quarter valued at $431,000. Finally, Charles Schwab Investment Management Inc. raised its position in Ivanhoe Electric by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock worth $5,946,000 after buying an additional 8,023 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Ivanhoe Electric Trading Up 1.9 %

Shares of IE opened at $6.38 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a 52-week low of $6.21 and a 52-week high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its earnings results on Friday, November 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). Ivanhoe Electric had a negative net margin of 5,947.19% and a negative return on equity of 59.78%. The company had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.00 million. On average, research analysts predict that Ivanhoe Electric Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IE shares. Jefferies Financial Group lowered their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Scotiabank cut their target price on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research note on Monday, January 6th.

About Ivanhoe Electric

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.