Short Interest in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Rises By 19.0%

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,000,000 shares, an increase of 19.0% from the March 15th total of 3,360,000 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average trading volume of 496,600 shares, the days-to-cover ratio is currently 8.1 days.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Ivanhoe Electric

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

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds have recently modified their holdings of IE. LexAurum Advisors LLC increased its holdings in Ivanhoe Electric by 379.8% during the 1st quarter. LexAurum Advisors LLC now owns 51,100 shares of the company’s stock valued at $501,000 after purchasing an additional 40,450 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ivanhoe Electric by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 639,737 shares of the company’s stock valued at $6,449,000 after purchasing an additional 30,965 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ivanhoe Electric by 10.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 143,456 shares of the company’s stock valued at $1,446,000 after purchasing an additional 13,863 shares in the last quarter. American International Group Inc. increased its holdings in Ivanhoe Electric by 12.8% during the 4th quarter. American International Group Inc. now owns 31,414 shares of the company’s stock valued at $317,000 after purchasing an additional 3,563 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Ivanhoe Electric during the 4th quarter valued at $135,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Ivanhoe Electric Trading Up 1.2 %

Shares of IE stock opened at $10.46 on Friday. Ivanhoe Electric has a 12 month low of $7.29 and a 12 month high of $16.75. The company has a quick ratio of 5.32, a current ratio of 5.45 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -9.18 and a beta of 0.94.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its earnings results 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). Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. The company had revenue of $1.67 million during the quarter, compared to analyst estimates of $2.00 million. On average, equities analysts anticipate that Ivanhoe Electric will post -1.12 earnings per share for the current fiscal year.

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.