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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 9,640,000 shares, a growth of 7.8% from the October 15th total of 8,940,000 shares. Based on an average daily trading volume, of 736,300 shares, the days-to-cover ratio is currently 13.1 days. Currently, 13.2% of the company’s shares are sold short.

Ivanhoe Electric Price Performance

Shares of IE traded down $0.31 during trading hours on Monday, reaching $9.15. The company’s stock had a trading volume of 527,719 shares, compared to its average volume of 670,039. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 3.52. Ivanhoe Electric has a 1-year low of $6.31 and a 1-year high of $12.98. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.95 and a beta of 0.73.

Institutional Investors Weigh In On Ivanhoe Electric

A number of large investors have recently bought and sold shares of IE. State Street Corp lifted its position in Ivanhoe Electric by 94.5% during the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after acquiring an additional 1,558,467 shares during the last quarter. Raffles Associates LP increased its stake in shares of Ivanhoe Electric by 70.0% in the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after purchasing an additional 457,479 shares during the period. Mak Capital One LLC lifted its position in shares of Ivanhoe Electric by 21.6% during the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock worth $16,705,000 after purchasing an additional 316,903 shares during the last quarter. Tidal Investments LLC boosted its stake in Ivanhoe Electric by 432.6% during the 1st quarter. Tidal Investments LLC now owns 300,825 shares of the company’s stock valued at $2,948,000 after purchasing an additional 244,341 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Ivanhoe Electric by 13.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,631,239 shares of the company’s stock valued at $15,301,000 after buying an additional 199,400 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IE. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank decreased their target price on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating for the company in a research report on Monday, August 19th.

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.