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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Graham Richard Thomas Boyd acquired 5,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $5.83 per share, for a total transaction of $29,150.00. Following the acquisition, the vice president now directly owns 11,510 shares of the company’s stock, valued at approximately $67,103.30. This trade represents a 76.80 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Ivanhoe Electric Price Performance

IE opened at $5.71 on Wednesday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a fifty-two week low of $5.34 and a fifty-two week high of $12.98. The firm has a market cap of $689.60 million, a price-to-earnings ratio of -3.59 and a beta of 0.74. The stock has a 50-day simple moving average of $6.59.

Institutional Investors Weigh In On Ivanhoe Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Ivanhoe Electric by 13.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,843,058 shares of the company’s stock worth $36,566,000 after acquiring an additional 589,456 shares during the last quarter. State Street Corp grew its position in Ivanhoe Electric by 94.5% in the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company’s stock worth $27,132,000 after purchasing an additional 1,558,467 shares in the last quarter. Kopernik Global Investors LLC grew its position in Ivanhoe Electric by 5.4% in the 4th quarter. Kopernik Global Investors LLC now owns 2,557,225 shares of the company’s stock worth $19,307,000 after purchasing an additional 130,807 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Ivanhoe Electric by 4.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,081,096 shares of the company’s stock worth $15,712,000 after purchasing an additional 95,749 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Ivanhoe Electric by 59.8% in the 4th quarter. Legal & General Group Plc now owns 1,323,372 shares of the company’s stock worth $9,991,000 after purchasing an additional 495,325 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IE. JPMorgan Chase & Co. dropped their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Scotiabank dropped their price objective on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th. Finally, Jefferies Financial Group lowered their target price on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

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.