Pekin Hardy Strauss Inc. Lowers Stock Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Pekin Hardy Strauss Inc. lessened its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,215 shares of the company’s stock after selling 12,000 shares during the period. Pekin Hardy Strauss Inc. owned 0.06% of Ivanhoe Electric worth $687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mak Capital One LLC grew its stake in shares of Ivanhoe Electric by 30.2% in the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock worth $12,994,000 after buying an additional 299,018 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Ivanhoe Electric by 432.6% in the first quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock worth $2,948,000 after acquiring an additional 244,341 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ivanhoe Electric by 51.2% in the second quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock worth $2,746,000 after acquiring an additional 99,106 shares during the last quarter. Anson Funds Management LP bought a new position in shares of Ivanhoe Electric during the first quarter valued at $598,000. Finally, Goehring & Rozencwajg Associates LLC raised its position in shares of Ivanhoe Electric by 4.1% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company’s stock worth $13,722,000 after purchasing an additional 53,045 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Ivanhoe Electric Price Performance

NYSEAMERICAN:IE opened at $7.36 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52. The stock has a market cap of $886.14 million, a price-to-earnings ratio of -6.88 and a beta of 0.81. Ivanhoe Electric Inc. has a 52-week low of $6.31 and a 52-week high of $13.95.

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

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price objective on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 19th.

Ivanhoe Electric Profile

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.