Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Up 5.3% in January

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 8,170,000 shares, a growth of 5.3% from the January 15th total of 7,760,000 shares. Based on an average trading volume of 582,300 shares, the short-interest ratio is presently 14.0 days. Currently, 11.1% of the company’s stock are sold short.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE opened at $6.25 on Tuesday. Ivanhoe Electric has a 52 week low of $5.76 and a 52 week high of $12.98. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

IE has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Scotiabank decreased their price objective on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th.

Hedge Funds Weigh In On Ivanhoe Electric

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of 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 buying an additional 1,558,467 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Ivanhoe Electric by 13.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,843,058 shares of the company’s stock worth $36,566,000 after acquiring an additional 589,456 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Ivanhoe Electric by 59.8% in the fourth quarter. Legal & General Group Plc now owns 1,323,372 shares of the company’s stock worth $9,991,000 after acquiring an additional 495,325 shares during the last quarter. Raffles Associates LP boosted its position 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 acquiring an additional 457,479 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ivanhoe Electric by 78.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company’s stock worth $6,995,000 after acquiring an additional 402,879 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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.