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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) 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.

Institutional Investors Weigh In On Ivanhoe Electric

A number of institutional investors have recently made changes to their positions in the stock. MQS Management LLC bought a new stake in shares of Ivanhoe Electric in the 1st quarter valued at $100,000. Principal Financial Group Inc. acquired a new stake in Ivanhoe Electric during the 2nd quarter worth about $106,000. ProShare Advisors LLC grew its holdings in Ivanhoe Electric by 10.0% during 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 acquired a new position in shares of Ivanhoe Electric in the 4th quarter valued at about $151,000. Finally, Sei Investments Co. boosted its position in shares of Ivanhoe Electric by 11.5% during the 1st quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after purchasing an additional 4,610 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

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) 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.