Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CEO Joseph Taylor Melvin Buys 50,000 Shares

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) CEO Joseph Taylor Melvin bought 50,000 shares of Ivanhoe Electric stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $5.76 per share, with a total value of $288,000.00. Following the completion of the purchase, the chief executive officer now directly owns 730,753 shares in the company, valued at $4,209,137.28. This trade represents a 7.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ivanhoe Electric Stock Performance

NYSEAMERICAN:IE traded up $0.08 during mid-day trading on Tuesday, reaching $5.65. 178,185 shares of the company's stock were exchanged, compared to its average volume of 674,422. Ivanhoe Electric Inc. has a one year low of $5.34 and a one year high of $12.98. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The business's fifty day moving average is $6.63. The stock has a market capitalization of $681.99 million, a price-to-earnings ratio of -3.56 and a beta of 0.74.

Analysts Set New Price Targets

IE has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Ivanhoe Electric from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Scotiabank decreased their target price on Ivanhoe Electric from $14.00 to $13.50 and set a "sector outperform" rating on the stock in a research report on Monday, January 6th. Finally, Jefferies Financial Group dropped their price target on Ivanhoe Electric from $15.00 to $10.00 and set a "buy" rating for the company in a report on Monday, January 6th.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IE. Avior Wealth Management LLC acquired a new stake in shares of Ivanhoe Electric during the 3rd quarter worth $32,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Ivanhoe Electric during the fourth quarter worth about $80,000. BNP Paribas Financial Markets acquired a new stake in Ivanhoe Electric during the fourth quarter worth about $89,000. Eagle Global Advisors LLC bought a new position in Ivanhoe Electric in the 4th quarter valued at about $100,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Ivanhoe Electric in the 4th quarter valued at approximately $103,000. Institutional investors and hedge funds own 79.05% of the company's stock.

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.

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