Short Interest in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Expands By 12.6%

Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Rating) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 246,200 shares, a growth of 12.6% from the August 15th total of 218,700 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 239,200 shares, the short-interest ratio is presently 1.0 days.

Insiders Place Their Bets

In other Ivanhoe Electric news, major shareholder I-Pulse Inc. sold 416,666 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of 8.00, for a total transaction of 3,333,328.00. Following the completion of the transaction, the insider now owns 9,755,495 shares of the company’s stock, valued at 78,043,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Ivanhoe Electric

A number of institutional investors have recently added to or reduced their stakes in the company. UBS Group AG acquired a new position in shares of Ivanhoe Electric during the second quarter worth about $26,000. Franklin Resources Inc. acquired a new position in shares of Ivanhoe Electric during the second quarter worth about $3,702,000. FMR LLC acquired a new position in shares of Ivanhoe Electric during the second quarter worth about $69,384,000. Virtu Financial LLC acquired a new position in shares of Ivanhoe Electric during the second quarter worth about $128,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Ivanhoe Electric during the second quarter worth about $3,915,000. Hedge funds and other institutional investors own 35.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Ivanhoe Electric in a research report on Thursday, August 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Jefferies Financial Group assumed coverage on Ivanhoe Electric in a research report on Monday, July 25th. They issued a “buy” rating and a $13.50 price objective for the company. Finally, BMO Capital Markets initiated coverage on Ivanhoe Electric in a research report on Monday, July 25th. They issued an “outperform” rating and a $15.00 price objective for the company.

Ivanhoe Electric Stock Down 0.4 %

IE stock opened at 8.43 on Wednesday. Ivanhoe Electric has a 12-month low of 7.01 and a 12-month high of 12.04.

Ivanhoe Electric Company Profile

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Ivanhoe Electric Inc operates as a mineral exploration and development company in the United States. It operates through Critical Metals, Technology, and Energy Storage. The company holds 84.6% interests in the Tintic copper-gold project covering an area of 65 square kilometers located in Utah. It also holds an option to acquire a 100% interest in the Santa Cruz copper project covering an area of 77.59 square kilometers located in Arizona; 75% interest in the Hog Heaven silver-gold-copper project covering an area of 24.2 square kilometers located in Montana; and 60% interest in the Ivory Coast project covering an area of 1,125 square kilometers located in the Ivory Coast.

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