Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) VP Graham Richard Thomas Boyd acquired 5,000 shares of the company's stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which can be accessed through this link.
Ivanhoe Electric Stock Down 3.6 %
Shares of NYSEAMERICAN:IE opened at $5.57 on Tuesday. The company has a market cap of $672.69 million, a P/E ratio of -3.50 and a beta of 0.74. The firm has a 50-day moving average price of $6.63. Ivanhoe Electric Inc. has a fifty-two week low of $5.34 and a fifty-two week high of $12.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on IE. Jefferies Financial Group lowered their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating for the company in a report on Monday, January 6th. 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. Finally, 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.
Read Our Latest Stock Analysis on Ivanhoe Electric
Hedge Funds Weigh In On Ivanhoe Electric
Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Ivanhoe Electric by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company's stock valued at $1,086,000 after buying an additional 1,165 shares during the period. JPMorgan Chase & Co. increased its stake in 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 buying an additional 1,643 shares during the period. MetLife Investment Management LLC increased its stake in 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 buying an additional 2,948 shares during the period. Avior Wealth Management LLC acquired a new position in Ivanhoe Electric during the 3rd quarter valued at about $32,000. Finally, Creative Planning increased its stake in Ivanhoe Electric by 33.9% during the 3rd quarter. Creative Planning now owns 18,347 shares of the company's stock valued at $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.
Ivanhoe Electric Company Profile
(
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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.
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