Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Down 7.3% in December

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a significant 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. Approximately 10.2% of the company’s stock are sold short. Based on an average daily volume of 532,500 shares, the short-interest ratio is currently 14.0 days.

Analysts Set New Price Targets

A number of research firms have recently commented on IE. Scotiabank lowered their target price on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group dropped their price target on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in Ivanhoe Electric by 94.5% during the third 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 in the last quarter. Raffles Associates LP boosted its position in shares of Ivanhoe Electric by 70.0% in the 3rd 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 in the last quarter. Mak Capital One LLC grew its stake in shares of Ivanhoe Electric by 21.6% in the 2nd quarter. Mak Capital One LLC now owns 1,780,872 shares of the company’s stock worth $16,705,000 after buying an additional 316,903 shares during the last quarter. PDT Partners LLC bought a new position in Ivanhoe Electric during the 3rd quarter valued at approximately $1,122,000. Finally, Barclays PLC boosted its holdings in Ivanhoe Electric by 358.9% in the third quarter. Barclays PLC now owns 135,903 shares of the company’s stock worth $1,150,000 after acquiring an additional 106,288 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Stock Down 2.6 %

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

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.