Old West Investment Management LLC Has $2.20 Million Stock Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Old West Investment Management LLC lifted its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 62.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 259,597 shares of the company’s stock after purchasing an additional 100,265 shares during the quarter. Old West Investment Management LLC owned approximately 0.22% of Ivanhoe Electric worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of IE. Capstone Investment Advisors LLC raised its position in Ivanhoe Electric by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock worth $160,000 after purchasing an additional 1,350 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Ivanhoe Electric by 2.8% during the 1st quarter. Jennison Associates LLC now owns 547,651 shares of the company’s stock worth $5,367,000 after buying an additional 15,081 shares during the period. Sei Investments Co. boosted its stake in Ivanhoe Electric by 11.5% in the 1st quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after buying an additional 4,610 shares in the last quarter. 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 valued at $113,000 after acquiring an additional 1,043 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Ivanhoe Electric by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock valued at $6,689,000 after purchasing an additional 42,843 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $10.85 on Wednesday. The stock has a market cap of $1.31 billion, a PE ratio of -5.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52. Ivanhoe Electric Inc. has a 1 year low of $6.31 and a 1 year high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Ivanhoe Electric had a negative return on equity of 64.13% and a negative net margin of 8,095.90%. The business had revenue of $0.54 million for the quarter, compared to the consensus estimate of $1.00 million. On average, analysts anticipate that Ivanhoe Electric Inc. will post -1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IE has been the topic of a number of research analyst reports. Scotiabank decreased their price target 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. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

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.