JPMorgan Chase & Co. Has $566,000 Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

JPMorgan Chase & Co. boosted its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,951 shares of the company’s stock after buying an additional 1,643 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.06% of Ivanhoe Electric worth $566,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of IE. Avior Wealth Management LLC bought a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $32,000. nVerses Capital LLC bought a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $33,000. Creative Planning boosted its stake in shares of Ivanhoe Electric by 33.9% in the third quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after buying an additional 4,644 shares during the period. Intech Investment Management LLC bought a new stake in shares of Ivanhoe Electric in the third quarter valued at approximately $162,000. Finally, Aigen Investment Management LP bought a new stake in Ivanhoe Electric during the third quarter worth $174,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analysts Set New Price Targets

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

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN:IE opened at $6.35 on Tuesday. 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 one year low of $6.01 and a one year high of $12.98. The firm has a market capitalization of $764.92 million, a price-to-earnings ratio of -3.99 and a beta of 0.78.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its quarterly earnings data 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 return on equity of 59.78% and a negative net margin of 5,947.19%. The company had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.00 million. Sell-side analysts forecast that Ivanhoe Electric Inc. will post -1.47 EPS for the current fiscal year.

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.