Ivanhoe Electric (NYSEAMERICAN:IE) VP Sells $1,195,806.28 in Stock

Key Points

• Vice President Graham Richard Thomas Boyd of Ivanhoe Electric sold 134,059 shares for $1,195,806.28, decreasing his ownership by 40.84%.
• Ivanhoe Electric's stock price currently stands at $9.10, with analysts forecasting significant growth and setting target prices between $15.00 and $17.00.
• 79.05% of Ivanhoe Electric's stock is owned by institutional investors, indicating strong institutional interest in the company.

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) VP Graham Richard Thomas Boyd sold 134,059 shares of the stock in a transaction that occurred on 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN IE traded down $0.15 during midday trading on Monday, reaching $9.10. 684,173 shares of the company traded hands, compared to its average volume of 954,409. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -14.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.84 and a quick ratio of 3.84. The stock has a 50-day moving average price of $9.79 and a 200 day moving average price of $7.51. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $13.25.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IE. Cantor Fitzgerald initiated coverage on shares of Ivanhoe Electric in a research note on Thursday. They set an "overweight" rating and a $17.00 price objective on the stock. Raymond James Financial raised shares of Ivanhoe Electric to a "moderate buy" rating and set a $15.00 target price for the company in a research note on Monday, June 30th. Scotiabank restated an "outperform" rating on shares of Ivanhoe Electric in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ivanhoe Electric from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $14.00.

Institutional Trading of Ivanhoe Electric

Several large investors have recently added to or reduced their stakes in IE. Tower Research Capital LLC TRC increased its holdings in shares of Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company's stock worth $57,000 after buying an additional 3,713 shares in the last quarter. GAMMA Investing LLC grew its position in Ivanhoe Electric by 456.9% during 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 last quarter. Teacher Retirement System of Texas acquired a new stake in Ivanhoe Electric during the 1st quarter valued at $67,000. BNP Paribas Financial Markets increased its holdings in Ivanhoe Electric by 43.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company's stock valued at $73,000 after purchasing an additional 2,449 shares in the last quarter. Finally, AlphaQuest LLC raised its position in Ivanhoe Electric by 881.3% in the 2nd quarter. AlphaQuest LLC now owns 9,332 shares of the company's stock valued at $85,000 after purchasing an additional 8,381 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

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.

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