Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price traded up 3.9% during trading on Friday . The stock traded as high as $6.90 and last traded at $6.98. 68,975 shares were traded during trading, a decline of 91% from the average session volume of 761,084 shares. The stock had previously closed at $6.71.
Analyst Ratings Changes
IE has been the subject of several recent analyst reports. Raymond James set a $15.00 price target on Ivanhoe Electric and gave the stock an "outperform" rating in a research report on Friday, April 4th. JPMorgan Chase & Co. lowered their target price on Ivanhoe Electric from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.88.
Check Out Our Latest Report on IE
Ivanhoe Electric Trading Up 3.8%
The stock has a market cap of $841.16 million, a PE ratio of -4.39 and a beta of 0.74. The stock has a fifty day moving average price of $6.19 and a 200 day moving average price of $7.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.
Insider Activity at Ivanhoe Electric
In other Ivanhoe Electric news, CEO Joseph Taylor Melvin acquired 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 completion of the purchase, the chief executive officer now directly owns 730,753 shares in the company, valued at $4,209,137.28. The trade was a 7.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Graham Richard Thomas Boyd bought 5,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $5.83 per share, for a total transaction of $29,150.00. Following the transaction, the vice president now directly owns 11,510 shares in the company, valued at approximately $67,103.30. This trade represents a 76.80% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 75,000 shares of company stock worth $434,350 in the last quarter. 10.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. bought a new position in shares of Ivanhoe Electric during the 1st quarter worth approximately $4,284,000. Adage Capital Partners GP L.L.C. grew its holdings in Ivanhoe Electric by 9.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 845,978 shares of the company's stock worth $4,915,000 after purchasing an additional 73,088 shares during the last quarter. PDT Partners LLC increased its position in shares of Ivanhoe Electric by 57.0% during the first quarter. PDT Partners LLC now owns 117,344 shares of the company's stock worth $682,000 after purchasing an additional 42,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ivanhoe Electric by 41.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,831,620 shares of the company's stock valued at $39,692,000 after purchasing an additional 1,988,562 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Ivanhoe Electric in the 1st quarter worth $307,000. 79.05% of the stock is owned by institutional investors.
About Ivanhoe Electric
(
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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