Old West Investment Management LLC Buys 100,265 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Old West Investment Management LLC boosted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 62.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,597 shares of the company’s stock after purchasing an additional 100,265 shares during the period. Old West Investment Management LLC’s holdings in Ivanhoe Electric were worth $2,196,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in shares of Ivanhoe Electric by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after purchasing an additional 1,043 shares during the period. Capstone Investment Advisors LLC raised its stake in Ivanhoe Electric by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock valued at $160,000 after buying an additional 1,350 shares during the period. nVerses Capital LLC bought a new position in shares of Ivanhoe Electric during the 3rd quarter worth approximately $33,000. Sei Investments Co. raised 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 acquiring an additional 4,610 shares during the period. Finally, Creative Planning lifted its holdings in Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after purchasing an additional 4,644 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IE has been the subject of a number of research reports. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank reduced their price objective on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.

Ivanhoe Electric Price Performance

IE opened at $10.85 on Wednesday. The firm has a market cap of $1.31 billion, a PE ratio of -5.51 and a beta of 0.73. Ivanhoe Electric Inc. has a fifty-two week low of $6.31 and a fifty-two week high of $12.98. 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 (NYSEAMERICAN:IE) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.00 million. On average, equities research analysts predict that Ivanhoe Electric Inc. will post -1.36 earnings per share for the current fiscal year.

Ivanhoe Electric Company 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.