Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.05, but opened at $5.75. Ivanhoe Electric shares last traded at $6.04, with a volume of 486,648 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on IE shares. 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. Raymond James set a $15.00 price target on shares of Ivanhoe Electric and gave the stock an "outperform" rating in a report on Friday, April 4th. Scotiabank cut 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, JPMorgan Chase & Co. lowered their target price on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ivanhoe Electric presently has a consensus rating of "Buy" and a consensus target price of $12.88.
Check Out Our Latest Analysis on IE
Ivanhoe Electric Stock Down 5.0 %
The stock has a fifty day moving average price of $5.97 and a 200 day moving average price of $7.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market capitalization of $736.70 million, a P/E ratio of -3.84 and a beta of 0.74.
Insiders Place Their Bets
In related news, CEO Joseph Taylor Melvin acquired 50,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the completion of the acquisition, the chief executive officer now owns 730,753 shares in the company, valued at approximately $4,209,137.28. This represents a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jordan Neeser purchased 20,000 shares of Ivanhoe Electric stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $5.86 per share, for a total transaction of $117,200.00. Following the acquisition, the chief financial officer now owns 40,000 shares in the company, valued at $234,400. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 75,000 shares of company stock valued at $434,350 in the last quarter. Corporate insiders own 10.50% of the company's stock.
Institutional Investors Weigh In On Ivanhoe Electric
Several institutional investors and hedge funds have recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Ivanhoe Electric during the 4th quarter valued at $80,000. GAMMA Investing LLC increased its position in Ivanhoe Electric by 456.9% in the first quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock worth $65,000 after buying an additional 9,119 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric in the fourth quarter worth about $89,000. Eagle Global Advisors LLC purchased a new position in shares of Ivanhoe Electric during the 4th quarter valued at about $100,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Ivanhoe Electric in the 4th quarter worth approximately $103,000. Institutional investors own 79.05% of the company's stock.
Ivanhoe Electric Company Profile
(
Get Free Report)
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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