Insider Buying: Ivanhoe Electric Inc. (NYSEAMERICAN:IE) VP Purchases 5,000 Shares of Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) VP Graham Richard Thomas Boyd bought 5,000 shares of Ivanhoe Electric stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $5.83 per share, with a total value of $29,150.00. Following the transaction, the vice president now owns 11,510 shares of the company's stock, valued at $67,103.30. This trade represents a 76.80 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ivanhoe Electric Stock Performance

IE stock traded up $0.19 during midday trading on Friday, reaching $5.99. 230,000 shares of the company's stock traded hands, compared to its average volume of 679,550. The stock has a market capitalization of $723.41 million, a price-to-earnings ratio of -3.77 and a beta of 0.74. The firm has a 50-day moving average price of $6.51. Ivanhoe Electric Inc. has a 52 week low of $5.34 and a 52 week high of $12.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IE. Barclays PLC lifted its stake in Ivanhoe Electric by 358.9% during the third quarter. Barclays PLC now owns 135,903 shares of the company's stock worth $1,150,000 after purchasing an additional 106,288 shares during the last quarter. State Street Corp raised its holdings in shares of Ivanhoe Electric by 94.5% during the 3rd quarter. State Street Corp now owns 3,207,117 shares of the company's stock valued at $27,132,000 after buying an additional 1,558,467 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Ivanhoe Electric in the third quarter worth approximately $162,000. Charles Schwab Investment Management Inc. boosted its stake in Ivanhoe Electric by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 702,871 shares of the company's stock worth $5,946,000 after buying an additional 8,023 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Ivanhoe Electric during the third quarter worth approximately $1,122,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group dropped 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. Scotiabank dropped their price target on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Ivanhoe Electric from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th.

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.