Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Sees Significant Increase in Short Interest

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) saw a significant growth in short interest in 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. Approximately 13.2% of the company's shares are sold short. Based on an average daily volume of 812,600 shares, the short-interest ratio is presently 11.9 days.

Analyst Ratings Changes

IE has been the subject of a number of recent research reports. Scotiabank decreased their price target 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 report on Thursday, September 26th.

Ivanhoe Electric Trading Up 3.2 %

IE traded up $0.28 during trading on Monday, hitting $9.16. The company's stock had a trading volume of 265,500 shares, compared to its average volume of 676,984. Ivanhoe Electric has a twelve month low of $6.31 and a twelve month high of $12.98. The company has a market capitalization of $1.10 billion, a PE ratio of -8.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.52 and a current ratio of 3.66.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mak Capital One LLC boosted 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 boosted its holdings in shares of Ivanhoe Electric by 13.9% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company's stock valued at $15,301,000 after acquiring an additional 199,400 shares during the period. Vanguard Group Inc. lifted its position in Ivanhoe Electric by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 682,580 shares of the company's stock valued at $6,689,000 after purchasing an additional 42,843 shares during the last quarter. Jennison Associates LLC boosted its stake 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. Finally, Tidal Investments LLC grew its position in 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 purchasing an additional 244,341 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

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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