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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) was the recipient of a significant increase in short interest in the month of 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 short sold. Based on an average daily trading volume, of 496,600 shares, the short-interest ratio is currently 8.1 days.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered their price target on Ivanhoe Electric from $15.50 to $14.50 and set a "sector outperform" rating for the company in a report on Tuesday, April 9th.

Ivanhoe Electric Trading Up 1.2 %

NYSEAMERICAN:IE traded up $0.12 during trading hours on Friday, reaching $10.46. The company had a trading volume of 607,762 shares, compared to its average volume of 478,341. The company has a market capitalization of $1.26 billion, a PE ratio of -9.18 and a beta of 0.94. Ivanhoe Electric has a 1-year low of $7.29 and a 1-year high of $16.75. 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 (NYSEAMERICAN:IE - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.67 million for the quarter, compared to analysts' expectations of $2.00 million. As a group, analysts forecast that Ivanhoe Electric will post -1.12 EPS for the current year.

Insider Activity

In other news, VP Graham Richard Thomas Boyd purchased 4,000 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price 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 in the company, valued at approximately $48,434.40. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 12.50% of the company's stock.

Institutional Trading of Ivanhoe Electric

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. purchased a new stake in Ivanhoe Electric in the 2nd quarter valued at $26,000. UBS Group AG acquired a new position in Ivanhoe Electric during the 2nd quarter worth about $26,000. Barclays PLC lifted its stake in Ivanhoe Electric by 533.5% during the 4th quarter. Barclays PLC now owns 3,896 shares of the company's stock worth $47,000 after acquiring an additional 3,281 shares in the last quarter. California State Teachers Retirement System acquired a new position in Ivanhoe Electric during the 3rd quarter worth about $47,000. Finally, Tower Research Capital LLC TRC lifted its stake in Ivanhoe Electric by 671.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,434 shares of the company's stock worth $53,000 after acquiring an additional 3,859 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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.