Ivanhoe Electric Inc. $IE Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Ivanhoe Electric Inc. by 41.1% in Q1, owning 6,831,620 shares valued at approximately $39.7 million.
• Analysts have upgraded Ivanhoe Electric’s stock with a consensus price target of $14.00, and it has received multiple buy ratings, including an increase from $13.00 to $15.00 by JPMorgan Chase.
• Insider trading revealed that VP Graham Richard Thomas Boyd sold 134,059 shares at an average price of $8.92, reducing his stake by nearly 40.84%.

Price T Rowe Associates Inc. MD increased its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 41.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,831,620 shares of the company's stock after acquiring an additional 1,988,562 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.66% of Ivanhoe Electric worth $39,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Ivanhoe Electric by 456.9% in the 1st quarter. GAMMA Investing LLC now owns 11,115 shares of the company's stock worth $65,000 after acquiring an additional 9,119 shares during the period. Teacher Retirement System of Texas acquired a new stake in Ivanhoe Electric during the 1st quarter valued at $67,000. BNP Paribas Financial Markets acquired a new stake in Ivanhoe Electric during the 4th quarter valued at $89,000. Eagle Global Advisors LLC acquired a new stake in Ivanhoe Electric during the 4th quarter valued at $100,000. Finally, Ameriprise Financial Inc. acquired a new stake in Ivanhoe Electric during the 4th quarter valued at $104,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Ratings Changes

IE has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Ivanhoe Electric from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Raymond James Financial upgraded Ivanhoe Electric to a "moderate buy" rating and set a $15.00 target price on the stock in a report on Monday, June 30th. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Finally, Cantor Fitzgerald initiated coverage on Ivanhoe Electric in a report on Thursday, August 21st. They set an "overweight" rating and a $17.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.00.

Insider Buying and Selling

In other Ivanhoe Electric news, VP Graham Richard Thomas Boyd sold 134,059 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $8.92, for a total value of $1,195,806.28. Following the transaction, the vice president directly owned 194,226 shares of the company's stock, valued at $1,732,495.92. This trade represents a 40.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.06% of the stock is owned by company insiders.

Ivanhoe Electric Trading Down 1.0%

Shares of IE opened at $8.92 on Thursday. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.18 billion, a P/E ratio of -13.94 and a beta of 0.88. The stock's fifty day simple moving average is $9.84 and its 200 day simple moving average is $7.55. Ivanhoe Electric Inc. has a twelve month low of $4.50 and a twelve month high of $13.25.

Ivanhoe Electric 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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