Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 34.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,179 shares of the company’s stock after purchasing an additional 26,909 shares during the period. Rhumbline Advisers owned approximately 0.09% of Ivanhoe Electric worth $977,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IE. Primecap Management Co. CA increased its holdings in shares of Ivanhoe Electric by 3.7% in the 4th quarter. Primecap Management Co. CA now owns 425,800 shares of the company’s stock valued at $4,292,000 after purchasing an additional 15,002 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Ivanhoe Electric in the fourth quarter valued at about $151,000. Mak Capital One LLC increased its holdings in Ivanhoe Electric by 30.2% in the fourth quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock valued at $12,994,000 after buying an additional 299,018 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Ivanhoe Electric by 4.1% during the 4th 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 period. Finally, GeoSphere Capital Management LLC purchased a new stake in shares of Ivanhoe Electric during the 4th quarter worth approximately $504,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price target on 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.

Ivanhoe Electric Trading Down 5.0 %

Shares of IE opened at $7.22 on Monday. Ivanhoe Electric Inc. has a fifty-two week low of $6.31 and a fifty-two week high of $13.91. The firm has a market capitalization of $869.29 million, a price-to-earnings ratio of -6.75 and a beta of 0.81. 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 released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. As a group, equities analysts forecast that Ivanhoe Electric Inc. will post -1.32 EPS for the current fiscal year.

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.