Insider Buying: Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Acquires 5,000 Shares of Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Graham Richard Thomas Boyd acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $5.83 per share, with a total value of $29,150.00. Following the completion of the acquisition, the vice president now owns 11,510 shares in the company, valued at $67,103.30. This trade represents a 76.80 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ivanhoe Electric Stock Performance

Ivanhoe Electric stock opened at $5.81 on Thursday. The firm’s fifty day moving average is $6.56. 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 cap of $701.67 million, a PE ratio of -3.65 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.

Wall Street Analyst Weigh In

Several research firms have issued reports on IE. Scotiabank lowered their target price 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. 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 research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price 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.

Institutional Trading of Ivanhoe Electric

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ivanhoe Electric by 34.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 211,513 shares of the company’s stock valued at $1,597,000 after buying an additional 54,771 shares in the last quarter. ProShare Advisors LLC raised its position in Ivanhoe Electric by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 23,541 shares of the company’s stock worth $178,000 after purchasing an additional 7,746 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ivanhoe Electric by 78.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company’s stock worth $6,995,000 after purchasing an additional 402,879 shares during the period. Deutsche Bank AG raised its position in Ivanhoe Electric by 49.7% in the 4th quarter. Deutsche Bank AG now owns 77,971 shares of the company’s stock worth $589,000 after purchasing an additional 25,873 shares during the period. Finally, Eagle Global Advisors LLC purchased a new position in Ivanhoe Electric in the 4th quarter worth $100,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.