Insider Buying: Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CEO Purchases $288,000.00 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CEO Joseph Taylor Melvin purchased 50,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $5.76 per share, with a total value of $288,000.00. Following the acquisition, the chief executive officer now owns 730,753 shares of the company’s stock, valued at $4,209,137.28. This represents a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Ivanhoe Electric Stock Down 0.2 %

Shares of NYSEAMERICAN IE opened at $5.80 on Friday. The stock’s fifty day moving average price is $6.54. The company has a market capitalization of $700.47 million, a PE ratio of -3.65 and a beta of 0.74. Ivanhoe Electric Inc. has a twelve month low of $5.34 and a twelve month high of $12.98. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

A number of research firms have commented on IE. JPMorgan Chase & Co. lowered their target price on shares of Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Scotiabank lowered their target price on shares of Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating for the company in a report on Monday, January 6th. Finally, Jefferies Financial Group reduced their price target on shares of Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Hedge Funds Weigh In On Ivanhoe Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in IE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ivanhoe Electric by 34.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 211,513 shares of the company’s stock valued at $1,597,000 after acquiring an additional 54,771 shares in the last quarter. ProShare Advisors LLC lifted its position in Ivanhoe Electric by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 23,541 shares of the company’s stock valued at $178,000 after acquiring an additional 7,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ivanhoe Electric by 78.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 917,272 shares of the company’s stock valued at $6,995,000 after acquiring an additional 402,879 shares in the last quarter. Deutsche Bank AG lifted its position in Ivanhoe Electric by 49.7% in the 4th quarter. Deutsche Bank AG now owns 77,971 shares of the company’s stock valued at $589,000 after acquiring an additional 25,873 shares in the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in Ivanhoe Electric in the 4th quarter valued at $100,000. 79.05% of the stock is owned by institutional investors.

About Ivanhoe Electric

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.