Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Update

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 9,660,000 shares, a growth of 18.2% from the September 15th total of 8,170,000 shares. Currently, 13.2% of the shares of the company are sold short. Based on an average trading volume of 812,600 shares, the days-to-cover ratio is currently 11.9 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IE shares. Scotiabank lowered 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 report on Monday, August 19th. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th.

Ivanhoe Electric Price Performance

NYSEAMERICAN IE traded up $0.49 during trading on Wednesday, reaching $9.73. The company’s stock had a trading volume of 346,940 shares, compared to its average volume of 674,225. The firm has a market capitalization of $1.17 billion, a P/E ratio of -9.20 and a beta of 0.82. The company has a quick ratio of 3.52, a current ratio of 3.66 and a debt-to-equity ratio of 0.22. Ivanhoe Electric has a one year low of $6.31 and a one year high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The business had revenue of $0.54 million during 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%. As a group, equities analysts anticipate that Ivanhoe Electric will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors have recently modified their holdings of the company. MQS Management LLC purchased a new position in shares of Ivanhoe Electric in the 1st quarter valued at approximately $100,000. Principal Financial Group Inc. purchased a new position in shares of Ivanhoe Electric in the 2nd quarter valued at approximately $106,000. ProShare Advisors LLC lifted its stake 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 valued at $113,000 after purchasing an additional 1,043 shares during the period. Capstone Investment Advisors LLC lifted its stake 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 valued at $160,000 after purchasing an additional 1,350 shares during the period. Finally, Creative Planning increased its position in Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after buying an additional 4,644 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

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.