Kercheville Advisors LLC Grows Stock Holdings in Ivanhoe Electric Inc. $IE

Kercheville Advisors LLC grew its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 75.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 122,950 shares of the company’s stock after acquiring an additional 53,000 shares during the period. Kercheville Advisors LLC’s holdings in Ivanhoe Electric were worth $1,543,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in Ivanhoe Electric by 146.0% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets raised its position in shares of Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after buying an additional 2,449 shares during the last quarter. AlphaQuest LLC raised its position in shares of Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after buying an additional 8,381 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Ivanhoe Electric in the second quarter worth $93,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Ivanhoe Electric by 13.9% during the second quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock worth $118,000 after acquiring an additional 1,587 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on IE shares. JPMorgan Chase & Co. lifted their price target on shares of Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Raymond James Financial raised their price objective on Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Ivanhoe Electric currently has a consensus rating of “Buy” and a consensus target price of $15.70.

Insider Activity at Ivanhoe Electric

In related news, insider Quentin Markin sold 90,000 shares of Ivanhoe Electric stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.34, for a total value of $1,470,600.00. Following the completion of the transaction, the insider owned 728,493 shares in the company, valued at approximately $11,903,575.62. This trade represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.06% of the company’s stock.

Ivanhoe Electric Price Performance

IE stock opened at $16.35 on Monday. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $17.90. The firm has a market capitalization of $2.37 billion, a P/E ratio of -39.88 and a beta of 0.98. The company has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $11.97. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.08.

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.