Quentin Markin Sells 90,000 Shares of Ivanhoe Electric (NYSEAMERICAN:IE) Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Quentin Markin sold 90,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $16.34, for a total transaction of $1,470,600.00. Following the sale, the insider owned 728,493 shares in the company, valued at approximately $11,903,575.62. The trade was a 11.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN IE opened at $15.98 on Friday. The company has a 50 day moving average of $14.23 and a 200 day moving average of $11.86. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.08. Ivanhoe Electric Inc. has a twelve month low of $4.50 and a twelve month high of $17.90. The firm has a market cap of $2.31 billion, a P/E ratio of -38.97 and a beta of 0.97.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IE shares. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research report on Tuesday, October 28th. Raymond James Financial lifted their price target on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $15.70.

Institutional Investors Weigh In On Ivanhoe Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Ivanhoe Electric by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,289,271 shares of the company’s stock worth $66,380,000 after buying an additional 80,693 shares during the last quarter. Kopernik Global Investors LLC raised its position in Ivanhoe Electric by 2.2% in the second quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock worth $30,952,000 after acquiring an additional 72,376 shares during the period. Primecap Management Co. CA boosted its stake in shares of Ivanhoe Electric by 79.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock worth $35,495,000 after acquiring an additional 1,253,400 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Ivanhoe Electric by 13.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,100,686 shares of the company’s stock valued at $26,364,000 after acquiring an additional 251,361 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Ivanhoe Electric by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock valued at $18,841,000 after acquiring an additional 125,111 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.