Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Stake Increased by Old West Investment Management LLC

Old West Investment Management LLC lifted its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,332 shares of the company’s stock after buying an additional 3,369 shares during the period. Old West Investment Management LLC owned about 0.13% of Ivanhoe Electric worth $1,495,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. MQS Management LLC acquired a new stake in shares of Ivanhoe Electric during the 1st quarter valued at about $100,000. Principal Financial Group Inc. acquired a new stake in Ivanhoe Electric in the second quarter valued at approximately $106,000. ProShare Advisors LLC grew its position in Ivanhoe Electric by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after acquiring an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Ivanhoe Electric in the fourth quarter worth approximately $151,000. Finally, Sei Investments Co. increased its stake in shares of Ivanhoe Electric by 11.5% during the 1st quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock worth $440,000 after purchasing an additional 4,610 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Ivanhoe Electric Stock Down 5.8 %

NYSEAMERICAN:IE opened at $7.30 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 3.66 and a debt-to-equity ratio of 0.22. Ivanhoe Electric Inc. has a 52 week low of $6.31 and a 52 week high of $13.95. The stock has a market cap of $878.92 million, a PE ratio of -6.82 and a beta of 0.81.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The company had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. Equities research analysts predict that Ivanhoe Electric Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Scotiabank decreased their price objective on shares of Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.

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.