Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Graham Richard Thomas Boyd Purchases 5,000 Shares

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Graham Richard Thomas Boyd purchased 5,000 shares of Ivanhoe Electric stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost 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 represents a 76.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ivanhoe Electric Stock Down 3.6 %

NYSEAMERICAN:IE opened at $5.57 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market capitalization of $672.69 million, a P/E ratio of -3.50 and a beta of 0.74. Ivanhoe Electric Inc. has a fifty-two week low of $5.34 and a fifty-two week high of $12.98. The stock’s 50 day moving average is $6.63.

Hedge Funds Weigh In On Ivanhoe Electric

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in Ivanhoe Electric by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company’s stock worth $1,086,000 after purchasing an additional 1,165 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ivanhoe Electric by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after acquiring an additional 1,643 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Ivanhoe Electric by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 51,922 shares of the company’s stock worth $392,000 after acquiring an additional 2,948 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Ivanhoe Electric in the third quarter worth $32,000. Finally, Creative Planning increased its position in shares of Ivanhoe Electric by 33.9% in the third quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after acquiring an additional 4,644 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on IE. JPMorgan Chase & Co. reduced their price objective on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Scotiabank reduced 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 research note on Monday, January 6th. Finally, Jefferies Financial Group reduced 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 note on Monday, January 6th.

Ivanhoe Electric Company Profile

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.