SG Americas Securities LLC Buys Shares of 50,994 Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

SG Americas Securities LLC purchased a new stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 50,994 shares of the company's stock, valued at approximately $431,000.

Other large investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of 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 purchasing an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC increased its stake in shares of 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. Old West Investment Management LLC increased its stake in shares of Ivanhoe Electric by 2.2% in the second quarter. Old West Investment Management LLC now owns 159,332 shares of the company's stock worth $1,495,000 after purchasing an additional 3,369 shares in the last quarter. Sei Investments Co. increased its stake in shares of Ivanhoe Electric by 11.5% in the first quarter. Sei Investments Co. now owns 44,849 shares of the company's stock worth $440,000 after purchasing an additional 4,610 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Ivanhoe Electric in the first quarter worth about $100,000. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Trading Up 1.2 %

Ivanhoe Electric stock traded up $0.12 during mid-day trading on Friday, hitting $10.02. 445,985 shares of the company traded hands, compared to its average volume of 674,088. Ivanhoe Electric Inc. has a one year low of $6.31 and a one year high of $12.98. The firm has a market cap of $1.21 billion, a PE ratio of -9.56 and a beta of 0.82. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). The business had revenue of $0.54 million during 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%. Analysts expect that Ivanhoe Electric Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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