Goehring & Rozencwajg Associates LLC Has $11.85 Million Holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Goehring & Rozencwajg Associates LLC cut its position in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,675,467 shares of the company’s stock after selling 40,849 shares during the quarter. Ivanhoe Electric accounts for 2.4% of Goehring & Rozencwajg Associates LLC’s portfolio, making the stock its 15th largest position. Goehring & Rozencwajg Associates LLC owned about 1.39% of Ivanhoe Electric worth $11,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after acquiring an additional 1,558,467 shares in the last quarter. Raffles Associates LP increased its holdings in shares of Ivanhoe Electric by 70.0% in the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock valued at $9,400,000 after purchasing an additional 457,479 shares during the period. PDT Partners LLC purchased a new stake in shares of Ivanhoe Electric in the third quarter worth approximately $1,122,000. Barclays PLC boosted its holdings in shares of Ivanhoe Electric by 358.9% during the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after purchasing an additional 106,288 shares during the period. Finally, Old West Investment Management LLC grew its position in Ivanhoe Electric by 62.9% during the third quarter. Old West Investment Management LLC now owns 259,597 shares of the company’s stock valued at $2,196,000 after purchasing an additional 100,265 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IE shares. Jefferies Financial Group cut their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Scotiabank decreased their target price on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research report on Monday, January 6th.

Ivanhoe Electric Trading Down 0.5 %

Shares of IE stock opened at $5.91 on Friday. Ivanhoe Electric Inc. has a 12 month low of $5.76 and a 12 month high of $12.98. The company has a market capitalization of $711.92 million, a price-to-earnings ratio of -3.72 and a beta of 0.75. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The business had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative return on equity of 59.78% and a negative net margin of 5,947.19%. On average, equities analysts anticipate that Ivanhoe Electric Inc. will post -1.47 earnings per share for the current fiscal year.

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.