Short Interest in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Grows By 5.3%

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

Ivanhoe Electric Stock Down 2.3 %

Shares of NYSEAMERICAN IE traded down $0.15 during midday trading on Friday, hitting $6.37. The company had a trading volume of 1,301,063 shares, compared to its average volume of 682,193. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric has a twelve month low of $5.76 and a twelve month high of $12.98. The stock has a market capitalization of $769.30 million, a price-to-earnings ratio of -4.01 and a beta of 0.74.

Institutional Trading of Ivanhoe Electric

Several hedge funds and other institutional investors have recently made changes to their positions in IE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ivanhoe Electric by 34.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 211,513 shares of the company's stock worth $1,597,000 after acquiring an additional 54,771 shares during the last quarter. ProShare Advisors LLC raised its position in Ivanhoe Electric by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 23,541 shares of the company's stock worth $178,000 after acquiring an additional 7,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ivanhoe Electric by 78.3% during 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. Deutsche Bank AG raised its position in Ivanhoe Electric by 49.7% during the fourth quarter. Deutsche Bank AG now owns 77,971 shares of the company's stock worth $589,000 after acquiring an additional 25,873 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new position in Ivanhoe Electric during the fourth quarter worth about $100,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IE. JPMorgan Chase & Co. dropped their target price on shares of Ivanhoe Electric from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Scotiabank dropped their target price on shares of Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating on the stock in a research report on Monday, January 6th. Finally, Jefferies Financial Group dropped their target price 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.

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.