Goehring & Rozencwajg Associates LLC Sells 40,849 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

Goehring & Rozencwajg Associates LLC trimmed its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,675,467 shares of the company’s stock after selling 40,849 shares during the quarter. Ivanhoe Electric comprises about 2.4% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 15th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Ivanhoe Electric were worth $11,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IE. State Street Corp increased its position in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after acquiring an additional 1,558,467 shares in the last quarter. Raffles Associates LP lifted its holdings in Ivanhoe Electric by 70.0% during the 3rd quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after buying an additional 457,479 shares in the last quarter. PDT Partners LLC bought a new position in Ivanhoe Electric in the 3rd quarter valued at $1,122,000. Barclays PLC increased its stake in shares of Ivanhoe Electric by 358.9% in the 3rd quarter. Barclays PLC now owns 135,903 shares of the company’s stock valued at $1,150,000 after buying an additional 106,288 shares during the period. Finally, Old West Investment Management LLC raised its position in shares of Ivanhoe Electric by 62.9% during the third quarter. Old West Investment Management LLC now owns 259,597 shares of the company’s stock worth $2,196,000 after acquiring an additional 100,265 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IE shares. Jefferies Financial Group lowered their price objective on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report 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 report on Thursday, January 16th. Finally, Scotiabank lowered 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 report on Monday, January 6th.

Ivanhoe Electric Trading Down 0.5 %

Shares of NYSEAMERICAN:IE opened at $5.91 on Friday. Ivanhoe Electric Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $12.98. The company has a market capitalization of $711.92 million, a P/E ratio of -3.72 and a beta of 0.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its earnings results on Friday, November 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Ivanhoe Electric had a negative net margin of 5,947.19% and a negative return on equity of 59.78%. The firm had revenue of $0.67 million during the quarter, compared to the consensus estimate of $1.00 million. Sell-side analysts predict that Ivanhoe Electric Inc. will post -1.47 EPS for the current year.

About Ivanhoe Electric

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.