Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) CEO Joseph Taylor Melvin acquired 50,000 shares of Ivanhoe Electric stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $288,000.00. Following the completion of the purchase, the chief executive officer now owns 730,753 shares of the company's stock, valued at approximately $4,209,137.28. The trade was a 7.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ivanhoe Electric Stock Up 2.5 %
IE opened at $5.71 on Wednesday. The firm has a market capitalization of $689.60 million, a PE ratio of -3.59 and a beta of 0.74. Ivanhoe Electric Inc. has a twelve month low of $5.34 and a twelve month high of $12.98. The business's fifty day moving average price is $6.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC bought a new position in shares of Ivanhoe Electric in the third quarter valued at $32,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ivanhoe Electric during the fourth quarter valued at about $80,000. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric during the fourth quarter valued at about $89,000. Eagle Global Advisors LLC bought a new position in shares of Ivanhoe Electric during the fourth quarter valued at about $100,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Ivanhoe Electric during the fourth quarter valued at about $103,000. 79.05% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on IE. Jefferies Financial Group cut 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 report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target 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 cut their price objective on shares of Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a report on Monday, January 6th.
View Our Latest Analysis on IE
About Ivanhoe Electric
(
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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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