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

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

Ivanhoe Electric Stock Up 1.8 %

Shares of Ivanhoe Electric stock opened at $5.81 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. Ivanhoe Electric Inc. has a twelve month low of $5.34 and a twelve month high of $12.98. The company has a market capitalization of $701.67 million, a PE ratio of -3.65 and a beta of 0.74. The business has a fifty day simple moving average of $6.56.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Scotiabank dropped 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. Jefferies Financial Group dropped their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th.

Hedge Funds Weigh In On Ivanhoe Electric

Several institutional investors have recently made changes to their positions in IE. The Manufacturers Life Insurance Company grew its position in Ivanhoe Electric by 0.9% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of Ivanhoe Electric by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock valued at $566,000 after acquiring an additional 1,643 shares during the period. MetLife Investment Management LLC grew its position in shares of Ivanhoe Electric by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 51,922 shares of the company’s stock valued at $392,000 after acquiring an additional 2,948 shares during the period. Avior Wealth Management LLC bought a new position in shares of Ivanhoe Electric during the 3rd quarter valued at approximately $32,000. Finally, Creative Planning boosted its holdings in Ivanhoe Electric by 33.9% in the 3rd quarter. Creative Planning now owns 18,347 shares of the company’s stock worth $155,000 after buying an additional 4,644 shares during the period. Institutional investors and hedge funds 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.