Stock Traders Buy High Volume of Ivanhoe Electric Call Options (NYSEAMERICAN:IE)

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the target of unusually large options trading on Tuesday. Traders bought 6,987 call options on the stock. This represents an increase of 106% compared to the typical volume of 3,386 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IE shares. Cantor Fitzgerald began coverage on Ivanhoe Electric in a research note on Thursday, August 21st. They set an “overweight” rating and a $17.00 price target for the company. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a report on Tuesday, October 28th. National Bankshares assumed coverage on Ivanhoe Electric in a research report on Wednesday, September 3rd. They issued an “outperform” rating for the company. Raymond James Financial upped their target price on Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, National Bank Financial upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, Ivanhoe Electric presently has an average rating of “Buy” and a consensus target price of $15.70.

Insider Buying and Selling

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $8.92, for a total value of $1,195,806.28. Following the transaction, the vice president directly owned 194,226 shares in the company, valued at $1,732,495.92. This represents a 40.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ivanhoe Electric

Several institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after acquiring an additional 3,713 shares in the last quarter. Comerica Bank increased its position in Ivanhoe Electric by 352.3% in the third quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after purchasing an additional 5,450 shares during the last quarter. BNP Paribas Financial Markets increased its position in Ivanhoe Electric by 43.6% in the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after purchasing an additional 2,449 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Ivanhoe Electric during the third quarter valued at $103,000. Finally, AlphaQuest LLC lifted its position in Ivanhoe Electric by 881.3% during the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock valued at $85,000 after purchasing an additional 8,381 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Trading Down 2.5%

Shares of Ivanhoe Electric stock opened at $11.91 on Wednesday. Ivanhoe Electric has a twelve month low of $4.50 and a twelve month high of $17.90. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $12.85 and a 200-day moving average price of $10.24. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -29.05 and a beta of 0.99.

Ivanhoe Electric Company Profile

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.