Goehring & Rozencwajg Associates LLC Increases Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Goehring & Rozencwajg Associates LLC grew its stake in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,631,239 shares of the company’s stock after purchasing an additional 199,400 shares during the period. Ivanhoe Electric makes up 3.0% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 10th largest holding. Goehring & Rozencwajg Associates LLC owned approximately 1.36% of Ivanhoe Electric worth $15,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Mak Capital One LLC boosted its stake in Ivanhoe Electric by 30.2% during the fourth quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock worth $12,994,000 after acquiring an additional 299,018 shares in the last quarter. Tidal Investments LLC boosted 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 acquiring an additional 244,341 shares in the last quarter. Bank of New York Mellon Corp boosted 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 acquiring an additional 99,106 shares in the last quarter. Anson Funds Management LP bought a new stake in Ivanhoe Electric during the first quarter worth about $598,000. Finally, GeoSphere Capital Management LLC bought a new stake in Ivanhoe Electric during the fourth quarter worth about $504,000. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Price Performance

IE opened at $7.39 on Thursday. 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 twelve month low of $6.31 and a twelve month high of $13.95. The company has a market cap of $889.76 million, a PE ratio of -6.91 and a beta of 0.81.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its earnings results 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 for the quarter, compared to analysts’ expectations 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 research analysts anticipate that Ivanhoe Electric Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their target price 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.

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.