Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Get Rating) was the recipient of a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 985,400 shares, a growth of 62.0% from the December 15th total of 608,400 shares. Based on an average trading volume of 170,600 shares, the short-interest ratio is currently 5.8 days. Approximately 2.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IE shares. Raymond James started coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 28th. They issued an "outperform" rating and a $12.00 target price on the stock. Scotiabank started coverage on shares of Ivanhoe Electric in a research note on Thursday, December 22nd. They issued a "sector perform" rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Ivanhoe Electric has a consensus rating of "Moderate Buy" and a consensus target price of 13.30.

Insider Activity

In other Ivanhoe Electric news, Chairman Robert M. Friedland bought 422,767 shares of the company's stock in a transaction dated Tuesday, November 29th. The shares were purchased at an average cost of 9.85 per share, for a total transaction of 4,164,254.95. Following the transaction, the chairman now directly owns 9,385,324 shares of the company's stock, valued at 92,445,441.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Ivanhoe Electric

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE traded up 0.26 during trading on Wednesday, hitting 13.88. The company's stock had a trading volume of 204,100 shares, compared to its average volume of 211,591. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.18 and a current ratio of 9.48. Ivanhoe Electric has a fifty-two week low of 7.01 and a fifty-two week high of 15.53.

Ivanhoe Electric (NYSEAMERICAN:IE – Get Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported -0.43 EPS for the quarter, missing the consensus estimate of -0.19 by -0.24. The business had revenue of 1.18 million for the quarter, compared to analyst estimates of 1.50 million. Sell-side analysts predict that Ivanhoe Electric will post -1.42 earnings per share for the current year.

About Ivanhoe Electric

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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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