Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Acquires $29,150.00 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Graham Richard Thomas Boyd bought 5,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $5.83 per share, with a total value of $29,150.00. Following the completion of the acquisition, the vice president now directly owns 11,510 shares in the company, valued at $67,103.30. This trade represents a 76.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ivanhoe Electric Stock Down 3.6 %

Shares of NYSEAMERICAN IE traded down $0.21 during mid-day trading on Monday, hitting $5.57. 896,795 shares of the company were exchanged, compared to its average volume of 676,306. The company has a market capitalization of $672.69 million, a price-to-earnings ratio of -3.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. Ivanhoe Electric Inc. has a 1-year low of $5.35 and a 1-year high of $12.98. The business’s 50 day moving average is $6.63.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IE shares. JPMorgan Chase & Co. decreased their price target on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Scotiabank reduced their price target on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group lowered their price objective 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC purchased a new stake in Ivanhoe Electric during the third quarter worth about $32,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ivanhoe Electric during the 4th quarter worth approximately $80,000. BNP Paribas Financial Markets acquired a new stake in shares of Ivanhoe Electric in the 4th quarter worth approximately $89,000. Eagle Global Advisors LLC acquired a new stake in Ivanhoe Electric during the 4th quarter valued at $100,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Ivanhoe Electric in the 4th quarter worth about $103,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Ivanhoe Electric

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.