Mak Capital One LLC Buys 316,903 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Mak Capital One LLC boosted its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 21.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,780,872 shares of the company's stock after acquiring an additional 316,903 shares during the quarter. Ivanhoe Electric comprises about 4.0% of Mak Capital One LLC's investment portfolio, making the stock its 4th biggest holding. Mak Capital One LLC owned 1.48% of Ivanhoe Electric worth $16,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. MQS Management LLC acquired a new stake in Ivanhoe Electric during the 1st quarter worth about $100,000. Principal Financial Group Inc. acquired a new stake in Ivanhoe Electric during the 2nd quarter worth about $106,000. ProShare Advisors LLC grew its stake in Ivanhoe Electric by 10.0% during the 1st 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 in the last quarter. Capstone Investment Advisors LLC purchased a new position in Ivanhoe Electric during the 4th quarter valued at about $151,000. Finally, Sei Investments Co. grew its stake in Ivanhoe Electric by 11.5% during 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 in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ivanhoe Electric Stock Down 1.2 %

Shares of IE stock traded down $0.11 during trading hours on Friday, reaching $8.71. 457,761 shares of the company's stock were exchanged, compared to its average volume of 693,480. Ivanhoe Electric Inc. has a fifty-two week low of $6.31 and a fifty-two week high of $12.98. The firm has a market cap of $1.05 billion, a PE ratio of -8.14 and a beta of 0.81. 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 (NYSEAMERICAN:IE - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. On average, equities analysts predict that Ivanhoe Electric Inc. will post -1.39 EPS for the current year.

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.