Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Up 10.9% in September

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 8,170,000 shares, an increase of 10.9% from the August 31st total of 7,370,000 shares. Currently, 11.2% of the shares of the stock are short sold. Based on an average daily volume of 847,300 shares, the short-interest ratio is presently 9.6 days.

Ivanhoe Electric Price Performance

Shares of Ivanhoe Electric stock traded up $0.02 during trading on Tuesday, hitting $8.48. The stock had a trading volume of 568,048 shares, compared to its average volume of 691,496. The firm has a market capitalization of $1.02 billion, a PE ratio of -7.93 and a beta of 0.81. 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 has a 12 month low of $6.31 and a 12 month high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last announced its quarterly earnings data 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). Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. The company had revenue of $0.54 million for the quarter, compared to the consensus estimate of $1.00 million. As a group, equities research analysts forecast that Ivanhoe Electric will post -1.39 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank cut their target price on shares of Ivanhoe Electric from $14.50 to $14.00 and set a "sector outperform" rating for the company in a research note on Monday, August 19th. Eight Capital raised shares of Ivanhoe Electric to a "strong-buy" rating in a research note on Thursday, September 26th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Mak Capital One LLC increased its position in Ivanhoe Electric by 21.6% during the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company's stock valued at $16,705,000 after purchasing an additional 316,903 shares during the period. Goehring & Rozencwajg Associates LLC grew its position in shares of Ivanhoe Electric by 13.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company's stock worth $15,301,000 after buying an additional 199,400 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ivanhoe Electric by 6.7% in 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 during the last quarter. Jennison Associates LLC grew its position in shares of Ivanhoe Electric by 2.8% in the 1st quarter. Jennison Associates LLC now owns 547,651 shares of the company's stock worth $5,367,000 after buying an additional 15,081 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Ivanhoe Electric by 432.6% in the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company's stock worth $2,948,000 after buying an additional 244,341 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Company 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.