Eight Capital upgraded shares of Ivanhoe Electric (NYSEAMERICAN:IE – Free Report) to a strong-buy rating in a research report report published on Thursday morning, Zacks.com reports.
Separately, Scotiabank lowered their price target on Ivanhoe Electric from $14.50 to $14.00 and set a sector outperform rating on the stock in a report on Monday, August 19th.
Ivanhoe Electric Stock Performance
Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. The company had revenue of $0.54 million for the quarter, compared to analysts’ expectations of $1.00 million. As a group, sell-side analysts forecast that Ivanhoe Electric will post -1.39 EPS for the current fiscal year.
Institutional Trading of Ivanhoe Electric
Several institutional investors and hedge funds have recently modified their holdings of the business. MQS Management LLC acquired a new stake in shares of Ivanhoe Electric during the first quarter valued at $100,000. Principal Financial Group Inc. purchased a new stake in shares of Ivanhoe Electric during the second quarter worth about $106,000. ProShare Advisors LLC raised its position 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 valued at $113,000 after buying an additional 1,043 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Ivanhoe Electric in the fourth quarter valued at approximately $151,000. Finally, Sei Investments Co. lifted its stake in shares of Ivanhoe Electric by 11.5% during the first quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after buying an additional 4,610 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.
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.
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