Short Interest in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Rises By 10.9%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 8,170,000 shares, a growth of 10.9% from the August 31st total of 7,370,000 shares. Based on an average daily trading volume, of 847,300 shares, the days-to-cover ratio is currently 9.6 days. Approximately 11.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms recently commented on IE. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a report on Thursday, September 26th. Scotiabank reduced their price objective on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.

Ivanhoe Electric Trading Up 1.8 %

NYSEAMERICAN:IE traded up $0.15 on Tuesday, hitting $8.61. The stock had a trading volume of 14,423 shares, compared to its average volume of 688,566. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -7.92 and a beta of 0.81. 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 has a 52-week low of $6.31 and a 52-week 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 (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 analysts’ expectations of $1.00 million. Ivanhoe Electric had a negative return on equity of 32.81% and a negative net margin of 4,142.17%. Analysts expect that Ivanhoe Electric will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC lifted its position in shares of Ivanhoe Electric by 10.0% during the 1st quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock valued at $113,000 after buying an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC lifted its position in shares of Ivanhoe Electric by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 16,350 shares of the company’s stock valued at $160,000 after buying an additional 1,350 shares in the last quarter. Old West Investment Management LLC lifted its position in shares of Ivanhoe Electric by 2.2% during the 2nd quarter. Old West Investment Management LLC now owns 159,332 shares of the company’s stock valued at $1,495,000 after buying an additional 3,369 shares in the last quarter. Sei Investments Co. lifted 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 buying an additional 4,610 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Ivanhoe Electric during the 1st quarter valued at about $100,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.