Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Down 14.6% in February

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a significant decrease in short interest in February. As of February 27th, there was short interest totaling 8,285,465 shares, a decrease of 14.6% from the February 12th total of 9,700,852 shares. Based on an average daily volume of 1,677,707 shares, the short-interest ratio is currently 4.9 days. Approximately 6.0% of the shares of the stock are short sold. Approximately 6.0% of the shares of the stock are short sold. Based on an average daily volume of 1,677,707 shares, the short-interest ratio is currently 4.9 days.

Insider Buying and Selling at Ivanhoe Electric

In related news, CFO Jordan Neeser sold 17,123 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $226,023.60. Following the completion of the sale, the chief financial officer owned 84,247 shares of the company’s stock, valued at $1,112,060.40. This trade represents a 16.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Graham Richard Thomas Boyd sold 11,147 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $147,140.40. Following the completion of the transaction, the vice president owned 183,079 shares in the company, valued at $2,416,642.80. The trade was a 5.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 273,912 shares of company stock valued at $4,301,921 over the last three months. Insiders own 12.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ivanhoe Electric by 3.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,657 shares of the company’s stock worth $441,000 after acquiring an additional 957 shares in the last quarter. Invesco Ltd. increased its stake in Ivanhoe Electric by 3.8% in the 2nd quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock valued at $305,000 after buying an additional 1,247 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Ivanhoe Electric by 1.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,248 shares of the company’s stock worth $1,924,000 after buying an additional 1,536 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after buying an additional 2,449 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Ivanhoe Electric by 1.5% during the 3rd quarter. Swiss National Bank now owns 167,100 shares of the company’s stock worth $2,097,000 after buying an additional 2,500 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Stock Performance

NYSEAMERICAN IE traded down $0.37 on Wednesday, reaching $12.02. The company had a trading volume of 1,504,436 shares, compared to its average volume of 1,903,565. The company’s fifty day moving average is $16.54 and its 200-day moving average is $14.44. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.33 and a beta of 0.98. Ivanhoe Electric has a 1-year low of $4.50 and a 1-year high of $21.55.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price objective on Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.13.

Ivanhoe Electric Company Profile

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.