Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Free Report) by 76.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,216 shares of the company's stock after selling 279,006 shares during the period. Tidal Investments LLC owned approximately 0.07% of Ivanhoe Electric worth $658,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ivanhoe Electric during the fourth quarter worth approximately $80,000. BNP Paribas Financial Markets bought a new position in shares of Ivanhoe Electric during the 4th quarter valued at $89,000. Eagle Global Advisors LLC purchased a new position in Ivanhoe Electric in the 4th quarter worth $100,000. KLP Kapitalforvaltning AS purchased a new position in Ivanhoe Electric in the 4th quarter worth $103,000. Finally, Ameriprise Financial Inc. bought a new stake in Ivanhoe Electric in the fourth quarter worth $104,000. Institutional investors own 79.05% of the company's stock.

Ivanhoe Electric Stock Down 0.4%

Shares of Ivanhoe Electric stock traded down $0.03 on Friday, reaching $7.23. The company's stock had a trading volume of 1,017,223 shares, compared to its average volume of 769,187. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $12.13. The firm's fifty day simple moving average is $6.27 and its two-hundred day simple moving average is $7.42. 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 company has a market capitalization of $873.17 million, a price-to-earnings ratio of -4.55 and a beta of 0.74.

Insiders Place Their Bets

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin acquired 50,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $5.76 per share, with a total value of $288,000.00. Following the transaction, the chief executive officer now directly owns 730,753 shares in the company, valued at approximately $4,209,137.28. The trade was a 7.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jordan Neeser purchased 20,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $5.86 per share, with a total value of $117,200.00. Following the acquisition, the chief financial officer now directly owns 40,000 shares of the company's stock, valued at $234,400. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 75,000 shares of company stock valued at $434,350. Company insiders own 10.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Raymond James set a $15.00 price objective on shares of Ivanhoe Electric and gave the company an "outperform" rating in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $12.88.

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.