Ivanhoe Electric (NYSEAMERICAN:IE) Insider Sells $2,028,259.52 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Cassandra Pulskamp Joseph sold 123,074 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $16.48, for a total value of $2,028,259.52. Following the sale, the insider directly owned 51,370 shares of the company’s stock, valued at approximately $846,577.60. This represents a 70.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ivanhoe Electric Trading Up 2.9%

NYSEAMERICAN IE opened at $17.19 on Monday. Ivanhoe Electric Inc. has a 1 year low of $4.50 and a 1 year high of $21.55. The company has a market cap of $2.71 billion, a PE ratio of -21.76 and a beta of 0.97. The stock’s 50-day moving average price is $17.15 and its two-hundred day moving average price is $14.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in shares of Ivanhoe Electric during the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC boosted its position in Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock worth $57,000 after purchasing an additional 3,713 shares during the period. BNP Paribas Financial Markets grew its holdings in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after purchasing an additional 2,449 shares during the last quarter. IFP Advisors Inc raised its position in shares of Ivanhoe Electric by 138.1% in the third quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock valued at $83,000 after purchasing an additional 3,717 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Ivanhoe Electric by 881.3% in the second quarter. AlphaQuest LLC now owns 9,332 shares of the company’s stock worth $85,000 after buying an additional 8,381 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.