Ivanhoe Electric (NYSEAMERICAN:IE) Trading Down 10.8% - Should You Sell?

Key Points

• Shares fell 10.8% to $13.52 on Thursday, with 1.62 million shares traded (about 23% below average); the 50‑day and 200‑day moving averages are $13.76 and $14.91, respectively.
• Analyst action is mixed but positive overall: JPMorgan trimmed its target to $21 from $22 while keeping an overweight rating, and the consensus rating is "Buy" with an average target of $17.88.
• Insider selling has been notable — the CEO and VP sold shares on March 6, insiders sold 183,912 shares valued at $2.83M in the last three months (insiders own 12.06%), while institutional investors hold about 79.05% of the stock.

Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) fell 10.8% during trading on Thursday . The stock traded as low as $13.52 and last traded at $13.52. 1,621,881 shares were traded during mid-day trading, a decline of 23% from the average session volume of 2,096,441 shares. The stock had previously closed at $15.15.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their target price on shares of Ivanhoe Electric from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, Ivanhoe Electric has a consensus rating of "Buy" and an average target price of $17.88.

Ivanhoe Electric Price Performance

The firm's 50-day moving average is $13.76 and its two-hundred day moving average is $14.91. The company has a market cap of $2.14 billion, a P/E ratio of -17.22 and a beta of 1.20.

Insider Buying and Selling

In related news, CEO Joseph Taylor Melvin sold 6,808 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $89,865.60. Following the sale, the chief executive officer owned 626,110 shares in the company, valued at approximately $8,264,652. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Graham Richard Thomas Boyd sold 11,147 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.20, for a total transaction of $147,140.40. Following the completion of the sale, the vice president owned 183,079 shares in the company, valued at $2,416,642.80. This represents a 5.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 183,912 shares of company stock valued at $2,831,321 in the last three months. Corporate insiders own 12.06% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its position in Ivanhoe Electric by 13.5% during the first quarter. Banque Cantonale Vaudoise now owns 22,700 shares of the company's stock valued at $268,000 after acquiring an additional 2,700 shares during the last quarter. Invesco Ltd. increased its position in Ivanhoe Electric by 643.9% during the fourth quarter. Invesco Ltd. now owns 359,268 shares of the company's stock valued at $5,741,000 after acquiring an additional 310,972 shares during the last quarter. Empowered Funds LLC bought a new position in Ivanhoe Electric during the fourth quarter valued at $268,000. XTX Topco Ltd bought a new position in Ivanhoe Electric during the fourth quarter valued at $697,000. Finally, Voloridge Investment Management LLC increased its position in Ivanhoe Electric by 176.6% during the fourth quarter. Voloridge Investment Management LLC now owns 200,990 shares of the company's stock valued at $3,212,000 after acquiring an additional 128,323 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

About Ivanhoe Electric

Ivanhoe Electric NYSEAMERICAN: IE is a mineral exploration and project-development company focused on the discovery and advancement of battery-metal deposits. The company's portfolio targets copper, nickel, silver, gold and zinc resources that support the growing demand for electrification and clean-energy technologies. Through systematic geological mapping, drilling and metallurgical testing, Ivanhoe Electric aims to delineate large-scale, strategically located mineral systems.

Headquartered in Greenwood Village, Colorado, Ivanhoe Electric has assembled a diversified land package across North America and Europe.

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