Ivanhoe Electric Target of Unusually Large Options Trading (NYSEAMERICAN:IE)

Key Points

• Ivanhoe Electric Inc. experienced a significant increase in options trading with 4,314 call options bought, an 82% rise compared to the average volume.
• The company's stock price rose by 7.8% to $15.57, with a market cap of $2.07 billion and a 12-month range between $4.50 and $16.22.
• Analysts have set a target price range for Ivanhoe Electric, with JPMorgan raising its target from $14.00 to $18.00 and ratings generally leaning towards "Buy" and "Strong Buy."

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) saw unusually large options trading activity on Thursday. Traders acquired 4,314 call options on the stock. This is an increase of approximately 82% compared to the typical volume of 2,366 call options.

Ivanhoe Electric Trading Up 7.8%

Shares of IE stock traded up $1.12 during trading hours on Thursday, hitting $15.57. 1,201,845 shares of the company's stock traded hands, compared to its average volume of 1,072,087. The stock's 50 day simple moving average is $9.94 and its 200 day simple moving average is $8.48. The stock has a market cap of $2.07 billion, a PE ratio of -24.34 and a beta of 0.98. Ivanhoe Electric has a 12 month low of $4.50 and a 12 month high of $16.22. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling at Ivanhoe Electric

In other news, VP Graham Richard Thomas Boyd sold 134,059 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $8.92, for a total transaction of $1,195,806.28. Following the completion of the sale, the vice president owned 194,226 shares of the company's stock, valued at approximately $1,732,495.92. This trade represents a 40.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.06% of the company's stock.

Hedge Funds Weigh In On Ivanhoe Electric

Hedge funds have recently bought and sold shares of the company. Eagle Global Advisors LLC increased its stake in Ivanhoe Electric by 7.6% in the second quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company's stock valued at $154,000 after purchasing an additional 1,200 shares in the last quarter. Invesco Ltd. boosted its holdings in Ivanhoe Electric by 3.8% during the second quarter. Invesco Ltd. now owns 33,674 shares of the company's stock worth $305,000 after purchasing an additional 1,247 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Ivanhoe Electric by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company's stock valued at $118,000 after acquiring an additional 1,587 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 2,449 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company's stock valued at $57,000 after buying an additional 3,713 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented 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 report on Monday, June 30th. Cantor Fitzgerald assumed coverage on shares of Ivanhoe Electric in a report on Thursday, August 21st. They set an "overweight" rating and a $17.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Ivanhoe Electric from $14.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday. National Bank Financial raised shares of Ivanhoe Electric to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, National Bankshares assumed coverage on shares of Ivanhoe Electric in a research report on Wednesday, September 3rd. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $14.60.

About Ivanhoe Electric

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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