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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 7,450,000 shares, a decrease of 7.3% from the December 15th total of 8,040,000 shares. Based on an average daily trading volume, of 532,500 shares, the short-interest ratio is currently 14.0 days. Currently, 10.2% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reduced their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday. Eight Capital raised shares of Ivanhoe Electric to a “strong-buy” rating in a report on Thursday, September 26th. Finally, Scotiabank dropped their price target on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research report on Monday, January 6th.

Institutional Investors Weigh In On Ivanhoe Electric

Large investors have recently modified their holdings of the company. State Street Corp lifted its stake in Ivanhoe Electric by 94.5% in the third quarter. State Street Corp now owns 3,207,117 shares of the company’s stock valued at $27,132,000 after buying an additional 1,558,467 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 valued at $16,705,000 after acquiring an additional 316,903 shares during the period. Raffles Associates LP boosted its stake in Ivanhoe Electric by 70.0% during the third quarter. Raffles Associates LP now owns 1,111,077 shares of the company’s stock worth $9,400,000 after acquiring an additional 457,479 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Ivanhoe Electric by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company’s stock worth $5,946,000 after purchasing an additional 8,023 shares during the period. Finally, Tidal Investments LLC increased its stake in Ivanhoe Electric by 14.5% in the third quarter. Tidal Investments LLC now owns 366,222 shares of the company’s stock valued at $3,098,000 after purchasing an additional 46,345 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Ivanhoe Electric Trading Down 2.6 %

IE traded down $0.18 during trading on Friday, reaching $6.71. 363,684 shares of the company’s stock were exchanged, compared to its average volume of 426,179. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. Ivanhoe Electric has a one year low of $6.31 and a one year high of $12.98. The firm has a market capitalization of $808.29 million, a price-to-earnings ratio of -4.22 and a beta of 0.78.

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.