Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Purchased by Old West Investment Management LLC

Old West Investment Management LLC raised its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 62.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 259,597 shares of the company's stock after acquiring an additional 100,265 shares during the period. Old West Investment Management LLC owned approximately 0.22% of Ivanhoe Electric worth $2,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC grew 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 worth $113,000 after acquiring an additional 1,043 shares during the period. Capstone Investment Advisors LLC raised its position in Ivanhoe Electric by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company's stock worth $160,000 after acquiring an additional 1,350 shares during the last quarter. nVerses Capital LLC acquired a new position in Ivanhoe Electric during the third quarter worth about $33,000. Sei Investments Co. grew its position 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 valued at $440,000 after purchasing an additional 4,610 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company's stock worth $155,000 after purchasing an additional 4,644 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Trading Up 0.5 %

Shares of NYSEAMERICAN IE traded up $0.05 during trading on Wednesday, reaching $10.90. 1,150,322 shares of the stock were exchanged, compared to its average volume of 664,807. The stock has a market cap of $1.31 billion, a P/E ratio of -5.51 and a beta of 0.73. The company has a current ratio of 3.66, a quick ratio of 3.52 and a debt-to-equity ratio of 0.22. Ivanhoe Electric Inc. has a twelve month low of $6.31 and a twelve month high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS 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. Equities research analysts predict that Ivanhoe Electric Inc. will post -1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Eight Capital raised Ivanhoe Electric to a "strong-buy" rating in a research note on Thursday, September 26th. Scotiabank cut their price target on shares of 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.

About Ivanhoe Electric

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.