Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Up 15.2% in July

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 6,980,000 shares, a growth of 15.2% from the June 30th total of 6,060,000 shares. Currently, 9.7% of the company’s shares are sold short. Based on an average trading volume of 737,400 shares, the short-interest ratio is currently 9.5 days.

Insider Activity

In other news, insider Mark Andrew Stuart Gibson sold 25,000 shares of Ivanhoe Electric stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $12.16, for a total transaction of $304,000.00. Following the completion of the sale, the insider now owns 260,272 shares of the company’s stock, valued at $3,164,907.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Ivanhoe Electric

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position 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 acquiring an additional 4,967 shares during the period. MQS Management LLC acquired a new position in shares of Ivanhoe Electric in the first quarter worth about $100,000. ProShare Advisors LLC raised its position in shares of Ivanhoe Electric by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after acquiring an additional 1,043 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Ivanhoe Electric in the fourth quarter worth about $151,000. Finally, Avior Wealth Management LLC raised its position in shares of Ivanhoe Electric by 164.7% in the fourth quarter. Avior Wealth Management LLC now owns 15,158 shares of the company’s stock worth $153,000 after acquiring an additional 9,432 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Scotiabank reduced their price objective on shares of 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.

Ivanhoe Electric Stock Performance

Shares of IE opened at $10.17 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.89 and a quick ratio of 4.76. Ivanhoe Electric has a 1-year low of $7.29 and a 1-year high of $16.75.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.80. The firm had revenue of $0.36 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. On average, research analysts forecast that Ivanhoe Electric will post -1.18 EPS 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.