Ivanhoe Electric Inc. (NYSEAMERICAN:IE) COO Mark Andrew Stuart Gibson Sells 28,344 Shares

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) COO Mark Andrew Stuart Gibson sold 28,344 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $12.45, for a total transaction of $352,882.80. Following the transaction, the chief operating officer now owns 301,928 shares of the company’s stock, valued at approximately $3,759,003.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ivanhoe Electric Stock Performance

Shares of IE opened at $11.97 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.76 and a current ratio of 4.89. Ivanhoe Electric Inc. has a 12-month low of $7.29 and a 12-month high of $16.75.

Ivanhoe Electric (NYSEAMERICAN:IE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.80. The firm had revenue of $0.36 million for the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 3,007.59% and a negative return on equity of 33.64%. On average, research analysts forecast that Ivanhoe Electric Inc. will post -1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ivanhoe Electric by 48.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,779 shares of the company’s stock worth $176,000 after purchasing an additional 4,836 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ivanhoe Electric by 3.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 464,781 shares of the company’s stock worth $5,531,000 after buying an additional 16,695 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Ivanhoe Electric by 118.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company’s stock worth $73,000 after acquiring an additional 3,307 shares during the last quarter. Jennison Associates LLC acquired a new position in Ivanhoe Electric during the 3rd quarter worth approximately $6,463,000. Finally, Barclays PLC increased its position in shares of Ivanhoe Electric by 21.3% in the 3rd quarter. Barclays PLC now owns 23,643 shares of the company’s stock valued at $281,000 after purchasing an additional 4,154 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Scotiabank reduced their target price on Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating for the company in a report on Tuesday, April 9th.

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.