50,994 Shares in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Purchased by SG Americas Securities LLC

SG Americas Securities LLC purchased a new position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,994 shares of the company’s stock, valued at approximately $431,000.

A number of other hedge funds have also bought and sold shares of IE. Tidal Investments LLC grew its stake in Ivanhoe Electric by 432.6% during the first quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock worth $2,948,000 after buying an additional 244,341 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock worth $15,301,000 after buying an additional 199,400 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ivanhoe Electric by 51.2% during the second quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock worth $2,746,000 after buying an additional 99,106 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ivanhoe Electric by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock valued at $6,689,000 after purchasing an additional 42,843 shares in the last quarter. Finally, Mak Capital One LLC boosted its stake in shares of Ivanhoe Electric by 21.6% in the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock valued at $16,705,000 after purchasing an additional 316,903 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $9.90 on Friday. 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 Inc. has a 52-week low of $6.31 and a 52-week high of $12.98. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.43 and a beta of 0.82.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The company had revenue of $0.54 million during the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. Equities analysts expect that Ivanhoe Electric Inc. will post -1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IE has been the topic of a number of research analyst reports. Scotiabank reduced 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. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

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.