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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the recipient of a large growth in short interest during the month of 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 company’s stock are sold short. Based on an average trading volume of 501,800 shares, the days-to-cover ratio is presently 8.4 days.

Ivanhoe Electric Stock Up 0.3 %

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 1 year low of $7.29 and a 1 year high of $16.75.

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

Insider Buying and Selling at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average cost of $7.44 per share, for a total transaction of $29,760.00. Following the completion of the purchase, the vice president now owns 6,510 shares of the company’s stock, valued at $48,434.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Ivanhoe Electric by 118.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock worth $73,000 after acquiring an additional 3,307 shares during the period. Centerpoint Advisors LLC acquired a new position in shares of Ivanhoe Electric during the fourth quarter valued at about $89,000. Tower Research Capital LLC TRC lifted 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 valued at $95,000 after buying an additional 4,967 shares during the period. LexAurum Advisors LLC acquired a new stake in Ivanhoe Electric during the fourth quarter worth about $107,000. Finally, Capstone Investment Advisors LLC bought a new position in Ivanhoe Electric during the fourth quarter valued at about $151,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

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

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.