Short Interest in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Rises By 6.0%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 4,240,000 shares, a growth of 6.0% from the March 31st total of 4,000,000 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average trading volume of 501,800 shares, the short-interest ratio is presently 8.4 days.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN IE opened at $10.13 on Thursday. The company has a current ratio of 5.45, a quick ratio of 5.32 and a debt-to-equity ratio of 0.17. Ivanhoe Electric has a 12 month low of $7.29 and a 12 month high of $16.75.

Ivanhoe Electric (NYSEAMERICAN:IE) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). The company had revenue of $1.67 million for the quarter, compared to analyst estimates of $2.00 million. Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. Research analysts anticipate that Ivanhoe Electric will post -1.15 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank cut their target price on Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating for the company in a research note on Tuesday, April 9th.

Insider Buying and Selling at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $7.44 per share, with a total value of $29,760.00. Following the completion of the transaction, the vice president now directly owns 6,510 shares of the company’s stock, valued at approximately $48,434.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IE. Capstone Investment Advisors LLC increased its stake in shares of Ivanhoe Electric by 9.0% in the first 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 during the period. Allspring Global Investments Holdings LLC increased its position in Ivanhoe Electric by 118.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock valued at $73,000 after acquiring an additional 3,307 shares during the period. Barclays PLC raised its stake in shares of Ivanhoe Electric by 21.3% during the third quarter. Barclays PLC now owns 23,643 shares of the company’s stock valued at $281,000 after acquiring an additional 4,154 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ivanhoe Electric by 48.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,779 shares of the company’s stock worth $176,000 after purchasing an additional 4,836 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Ivanhoe Electric by 112.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company’s stock worth $95,000 after purchasing an additional 4,967 shares during the last quarter. 79.05% of the stock is currently 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.