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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 8,760,000 shares, a decline of 15.8% from the April 30th total of 10,400,000 shares. Based on an average trading volume of 878,000 shares, the short-interest ratio is presently 10.0 days. Approximately 10.4% of the shares of the company are short sold.

Ivanhoe Electric Stock Up 1.7%

NYSEAMERICAN:IE traded up $0.13 during trading hours on Friday, hitting $7.93. 453,515 shares of the stock traded hands, compared to its average volume of 767,028. The firm has a 50 day moving average price of $6.41 and a 200 day moving average price of $7.44. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric has a fifty-two week low of $4.50 and a fifty-two week high of $12.13. The firm has a market cap of $957.71 million, a price-to-earnings ratio of -4.99 and a beta of 0.74.

Hedge Funds Weigh In On Ivanhoe Electric

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in Ivanhoe Electric by 6.5% during the fourth quarter. Rhumbline Advisers now owns 106,923 shares of the company's stock valued at $807,000 after acquiring an additional 6,505 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ivanhoe Electric by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 708,406 shares of the company's stock worth $5,348,000 after buying an additional 5,535 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Ivanhoe Electric during the fourth quarter worth approximately $171,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ivanhoe Electric during the fourth quarter worth approximately $80,000. Finally, Swiss National Bank increased its holdings in shares of Ivanhoe Electric by 8.4% in the fourth quarter. Swiss National Bank now owns 153,900 shares of the company's stock valued at $1,162,000 after purchasing an additional 11,900 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their target price on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Raymond James set a $15.00 target price on Ivanhoe Electric and gave the company an "outperform" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $12.88.

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.