Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CFO Acquires $117,200.00 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CFO Jordan Neeser acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $5.86 per share, with a total value of $117,200.00. Following the transaction, the chief financial officer now owns 40,000 shares in the company, valued at approximately $234,400. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ivanhoe Electric Price Performance

NYSEAMERICAN IE opened at $5.96 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The firm has a market cap of $719.79 million, a price-to-earnings ratio of -3.75 and a beta of 0.74. The stock has a fifty day moving average of $6.63. Ivanhoe Electric Inc. has a 52-week low of $5.37 and a 52-week high of $12.98.

Hedge Funds Weigh In On Ivanhoe Electric

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in Ivanhoe Electric by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 128,365 shares of the company’s stock valued at $1,086,000 after purchasing an additional 1,165 shares during the period. JPMorgan Chase & Co. raised its position in Ivanhoe Electric by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 66,951 shares of the company’s stock worth $566,000 after acquiring an additional 1,643 shares in the last quarter. MetLife Investment Management LLC raised its position in Ivanhoe Electric by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 51,922 shares of the company’s stock worth $392,000 after acquiring an additional 2,948 shares in the last quarter. Avior Wealth Management LLC acquired a new position in shares of Ivanhoe Electric in the third quarter valued at $32,000. Finally, Creative Planning grew its stake in shares of Ivanhoe Electric by 33.9% in the third quarter. Creative Planning now owns 18,347 shares of the company’s stock valued at $155,000 after acquiring an additional 4,644 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group reduced their target price 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. Finally, Scotiabank reduced 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.

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.