Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 7,370,000 shares, an increase of 8.1% from the August 15th total of 6,820,000 shares. Approximately 10.1% of the shares of the company are sold short. Based on an average trading volume of 859,600 shares, the days-to-cover ratio is currently 8.6 days.
Analyst Ratings Changes
Separately, Scotiabank reduced their price target on 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.
Read Our Latest Stock Analysis on Ivanhoe Electric
Institutional Investors Weigh In On Ivanhoe Electric
Ivanhoe Electric Stock Performance
Shares of Ivanhoe Electric stock opened at $7.30 on Tuesday. The company has a market capitalization of $878.92 million, a price-to-earnings ratio of -6.82 and a beta of 0.81. Ivanhoe Electric has a fifty-two week low of $6.31 and a fifty-two week high of $13.95. The company has a current ratio of 3.66, a quick ratio of 3.52 and a debt-to-equity ratio of 0.22.
Ivanhoe Electric (NYSEAMERICAN:IE – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The firm had revenue of $0.54 million during the quarter, compared to the consensus estimate of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. On average, research analysts anticipate that Ivanhoe Electric will post -1.32 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.
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