U S Global Investors Inc. Has $338,000 Stock Position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

U S Global Investors Inc. raised its holdings in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 30.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,000 shares of the company’s stock after acquiring an additional 9,404 shares during the period. U S Global Investors Inc.’s holdings in Ivanhoe Electric were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. ProShare Advisors LLC lifted its position in shares of Ivanhoe Electric by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after acquiring an additional 1,043 shares during the period. Capstone Investment Advisors LLC lifted its position in shares of Ivanhoe Electric by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock worth $160,000 after acquiring an additional 1,350 shares during the period. Old West Investment Management LLC lifted its position in shares of Ivanhoe Electric by 2.2% during the 2nd quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock worth $1,495,000 after buying an additional 3,369 shares during the period. nVerses Capital LLC acquired a new position in Ivanhoe Electric during the third quarter worth $33,000. Finally, Sei Investments Co. lifted its holdings in shares of Ivanhoe Electric by 11.5% during the first quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after acquiring an additional 4,610 shares during the period. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

IE stock traded up $0.21 during trading hours on Tuesday, reaching $10.24. The stock had a trading volume of 9,447 shares, compared to its average volume of 669,404. The stock has a market cap of $1.23 billion, a P/E ratio of -9.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52. Ivanhoe Electric Inc. has a fifty-two week low of $6.31 and a fifty-two week high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The firm had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. As a group, equities analysts predict that Ivanhoe Electric Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IE shares. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank cut their price target 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.

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.