Ivanhoe Electric (NYSEAMERICAN:IE) Insider Sells $61,564.80 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Cassandra Pulskamp Joseph sold 4,664 shares of Ivanhoe Electric stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.20, for a total transaction of $61,564.80. Following the sale, the insider directly owned 46,706 shares of the company’s stock, valued at approximately $616,519.20. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cassandra Pulskamp Joseph also recently made the following trade(s):

• On Wednesday, February 25th, Cassandra Pulskamp Joseph sold 123,074 shares of Ivanhoe Electric stock. The stock was sold at an average price of $16.48, for a total transaction of $2,028,259.52.

Ivanhoe Electric Price Performance

NYSEAMERICAN:IE opened at $14.02 on Thursday. Ivanhoe Electric Inc. has a 12 month low of $4.50 and a 12 month high of $21.55. The firm has a market capitalization of $2.21 billion, a PE ratio of -17.75 and a beta of 0.98. The business’s fifty day moving average price is $16.85 and its 200 day moving average price is $14.30.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.13.

Institutional Investors Weigh In On Ivanhoe Electric

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Ivanhoe Electric by 44.5% in the second quarter. Legal & General Group Plc now owns 1,759,911 shares of the company’s stock valued at $15,962,000 after acquiring an additional 541,719 shares in the last quarter. Kopernik Global Investors LLC grew its holdings in shares of Ivanhoe Electric by 2.2% during the second quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock worth $30,952,000 after purchasing an additional 72,376 shares during the last quarter. Formula Growth Ltd. increased its position in shares of Ivanhoe Electric by 187.8% during the second quarter. Formula Growth Ltd. now owns 247,934 shares of the company’s stock worth $2,249,000 after purchasing an additional 161,774 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ivanhoe Electric by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,289,271 shares of the company’s stock valued at $66,380,000 after purchasing an additional 80,693 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ivanhoe Electric by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock valued at $18,841,000 after purchasing an additional 125,111 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Ivanhoe Electric Company Profile

Ivanhoe Electric (NYSEAMERICAN:IE) is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company’s portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.