Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. boosted its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 36.7% during the fourth quarter, HoldingsChannel reports. The fund owned 85,190 shares of the company’s stock after buying an additional 22,850 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Ivanhoe Electric were worth $859,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Ivanhoe Electric by 27.4% in the third quarter. FMR LLC now owns 10,144,638 shares of the company’s stock worth $120,721,000 after acquiring an additional 2,181,192 shares in the last quarter. Pentwater Capital Management LP grew its position in shares of Ivanhoe Electric by 500.6% during the third quarter. Pentwater Capital Management LP now owns 1,751,666 shares of the company’s stock worth $20,845,000 after buying an additional 1,460,000 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Ivanhoe Electric during the third quarter worth approximately $8,925,000. Jennison Associates LLC acquired a new stake in Ivanhoe Electric in the third quarter valued at approximately $6,463,000. Finally, Primecap Management Co. CA purchased a new position in Ivanhoe Electric in the third quarter worth approximately $4,888,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $10.10 on Wednesday. Ivanhoe Electric Inc. has a 12 month low of $7.29 and a 12 month high of $16.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.45 and a quick ratio of 5.32. The company has a market cap of $1.22 billion, a PE ratio of -8.86 and a beta of 0.94.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its earnings results on Monday, February 26th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). The business had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.00 million. Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. As a group, research analysts anticipate that Ivanhoe Electric Inc. will post -1.15 EPS for the current fiscal year.

Insider Transactions at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd bought 4,000 shares of the stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $7.44 per share, with a total value of $29,760.00. Following the completion of the acquisition, the vice president now owns 6,510 shares of the company’s stock, valued at $48,434.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their price target on Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 9th.

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.