Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Purchased by Mak Capital One LLC

Mak Capital One LLC raised its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 21.6% in the second quarter, Holdings Channel reports. The firm owned 1,780,872 shares of the company’s stock after buying an additional 316,903 shares during the period. Ivanhoe Electric accounts for 4.0% of Mak Capital One LLC’s investment portfolio, making the stock its 4th largest holding. Mak Capital One LLC’s holdings in Ivanhoe Electric were worth $16,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in IE. Goehring & Rozencwajg Associates LLC lifted its stake in shares of Ivanhoe Electric by 13.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after purchasing an additional 199,400 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ivanhoe Electric by 6.7% in the first 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 last quarter. Jennison Associates LLC boosted its stake in shares of Ivanhoe Electric by 2.8% during the 1st quarter. Jennison Associates LLC now owns 547,651 shares of the company’s stock worth $5,367,000 after acquiring an additional 15,081 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Ivanhoe Electric by 432.6% during the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after acquiring an additional 244,341 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ivanhoe Electric by 51.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 292,746 shares of the company’s stock valued at $2,746,000 after acquiring an additional 99,106 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their target price on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a research report on Monday, August 19th.

Ivanhoe Electric Trading Up 11.1 %

NYSEAMERICAN:IE opened at $8.82 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of -8.24 and a beta of 0.81. Ivanhoe Electric Inc. has a 1 year low of $6.31 and a 1 year high of $13.31. 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 issued its quarterly earnings results 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 net margin of 4,142.17% and a negative return on equity of 32.81%. The business had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. As a group, equities research analysts predict that Ivanhoe Electric Inc. will post -1.39 earnings per share for the current year.

Ivanhoe Electric 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.