Old West Investment Management LLC Has $1.50 Million Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Old West Investment Management LLC lifted its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 159,332 shares of the company’s stock after buying an additional 3,369 shares during the period. Old West Investment Management LLC’s holdings in Ivanhoe Electric were worth $1,495,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Goehring & Rozencwajg Associates LLC boosted its holdings in Ivanhoe Electric by 4.1% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company’s stock valued at $13,722,000 after acquiring an additional 53,045 shares during the last quarter. Mak Capital One LLC boosted its stake in shares of Ivanhoe Electric by 30.2% in the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock valued at $12,994,000 after purchasing an additional 299,018 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ivanhoe Electric by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock worth $6,689,000 after buying an additional 42,843 shares during the period. Jennison Associates LLC raised its stake in shares of Ivanhoe Electric by 2.8% during the first 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 last quarter. Finally, Primecap Management Co. CA lifted its holdings in Ivanhoe Electric by 3.7% in the fourth quarter. Primecap Management Co. CA now owns 425,800 shares of the company’s stock valued at $4,292,000 after buying an additional 15,002 shares during the period. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Stock Performance

Shares of IE opened at $7.30 on Tuesday. The stock has a market cap of $878.92 million, a price-to-earnings ratio of -6.82 and a beta of 0.81. Ivanhoe Electric Inc. has a 1 year low of $6.31 and a 1 year high of $13.95. 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 (NYSEAMERICAN:IE) last announced its quarterly earnings results 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 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, research analysts forecast that Ivanhoe Electric Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Scotiabank lowered 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 report on Monday, August 19th.

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.