The Manufacturers Life Insurance Company lessened its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,200 shares of the company’s stock after selling 1,785 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Ivanhoe Electric worth $1,193,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of IE. Goehring & Rozencwajg Associates LLC boosted 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 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. Jennison Associates LLC boosted its stake in shares of Ivanhoe Electric by 2.8% in the 1st quarter. Jennison Associates LLC now owns 547,651 shares of the company’s stock valued at $5,367,000 after purchasing an additional 15,081 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Ivanhoe Electric by 432.6% in the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after purchasing an additional 244,341 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted 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 purchasing an additional 99,106 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on IE. Scotiabank cut 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 report on Monday, August 19th. Eight Capital upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th.
Ivanhoe Electric Price Performance
NYSEAMERICAN IE opened at $8.88 on Friday. Ivanhoe Electric Inc. has a 52-week low of $6.31 and a 52-week high of $12.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52. The company has a market cap of $1.07 billion, a P/E ratio of -8.46 and a beta of 0.82.
Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) last issued its quarterly 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 business had revenue of $0.54 million for the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. Equities analysts expect that Ivanhoe Electric Inc. will post -1.39 earnings per share for the current fiscal 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.
Recommended Stories
- Five stocks we like better than Ivanhoe Electric
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
- Differences Between Momentum Investing and Long Term Investing
- China’s EV Rally: Should Investors Chase, Avoid, or Buy the Dip?
- Are Penny Stocks a Good Fit for Your Portfolio?
- MarketBeat Week in Review – 10/7 – 10/11
Receive News & Ratings for Ivanhoe Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ivanhoe Electric and related companies with MarketBeat.com's FREE daily email newsletter.