MQS Management LLC Acquires Shares of 10,194 Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

MQS Management LLC purchased a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,194 shares of the company’s stock, valued at approximately $100,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Goehring & Rozencwajg Associates LLC lifted its position in Ivanhoe Electric by 4.1% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 1,361,329 shares of the company’s stock worth $13,722,000 after buying an additional 53,045 shares in the last quarter. Mak Capital One LLC lifted its position in Ivanhoe Electric by 30.2% during the 4th quarter. Mak Capital One LLC now owns 1,289,103 shares of the company’s stock worth $12,994,000 after buying an additional 299,018 shares in the last quarter. Vanguard Group Inc. lifted its position in Ivanhoe Electric by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company’s stock worth $6,689,000 after buying an additional 42,843 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Ivanhoe Electric by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 585,024 shares of the company’s stock valued at $5,897,000 after purchasing an additional 120,243 shares during the period. Finally, Jennison Associates LLC lifted its position in Ivanhoe Electric by 2.8% during 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 during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity

In other news, COO Mark Andrew Stuart Gibson sold 28,344 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $12.45, for a total value of $352,882.80. Following the completion of the sale, the chief operating officer now owns 301,928 shares of the company’s stock, valued at approximately $3,759,003.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Ivanhoe Electric Price Performance

Shares of IE traded down $0.05 during mid-day trading on Thursday, hitting $9.81. 505,732 shares of the company’s stock were exchanged, compared to its average volume of 611,364. The stock has a market capitalization of $1.18 billion, a P/E ratio of -9.17 and a beta of 0.85. Ivanhoe Electric Inc. has a 52 week low of $7.29 and a 52 week high of $16.75. The company has a quick ratio of 4.76, a current ratio of 4.89 and a debt-to-equity ratio of 0.19.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.80. The company had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $1.00 million. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. As a group, equities research analysts forecast that Ivanhoe Electric Inc. will post -1.18 EPS 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.