JPMorgan Chase & Co. Has Lowered Expectations for Ivanhoe Electric (NYSEAMERICAN:IE) Stock Price

Key Points

• JPMorgan lowered its price target for Ivanhoe Electric to $21 (from $22) but kept an "overweight" rating, implying roughly a 62.84% upside from the current price (~$12.90).
• Company insiders — including CFO Jordan Neeser and VP Graham Boyd — have been selling shares, with 183,912 insider shares (~$2.83M) sold in the past three months, leaving insiders owning 12.06% of the stock.
• Large institutions have been accumulating shares (notably Price T. Rowe, Alyeska, Vanguard and State Street), with institutional ownership at 79.05%; Ivanhoe Electric is a mineral-exploration company focused on battery metals like copper and nickel.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $22.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 62.84% from the company's current price.

Ivanhoe Electric Stock Performance

Shares of IE traded down $0.23 during trading hours on Thursday, hitting $12.90. The company had a trading volume of 1,124,255 shares, compared to its average volume of 2,106,615. Ivanhoe Electric has a 52-week low of $4.93 and a 52-week high of $21.55. The firm has a fifty day moving average price of $14.49 and a 200-day moving average price of $14.70. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -16.32 and a beta of 1.20.

Insider Buying and Selling

In related news, CFO Jordan Neeser sold 17,123 shares of Ivanhoe Electric stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $226,023.60. Following the completion of the sale, the chief financial officer directly owned 84,247 shares in the company, valued at approximately $1,112,060.40. This trade represents a 16.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Graham Richard Thomas Boyd sold 11,147 shares of Ivanhoe Electric stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $147,140.40. Following the completion of the sale, the vice president owned 183,079 shares of the company's stock, valued at $2,416,642.80. The trade was a 5.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 183,912 shares of company stock worth $2,831,321 in the last three months. 12.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Ivanhoe Electric by 114.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,671,551 shares of the company's stock worth $202,493,000 after buying an additional 6,761,857 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Ivanhoe Electric by 259.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company's stock valued at $120,686,000 after purchasing an additional 5,451,646 shares during the period. Vanguard Group Inc. grew its stake in shares of Ivanhoe Electric by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company's stock valued at $105,140,000 after purchasing an additional 1,290,175 shares during the period. State Street Corp grew its stake in shares of Ivanhoe Electric by 16.1% during the 4th quarter. State Street Corp now owns 6,451,563 shares of the company's stock valued at $103,096,000 after purchasing an additional 895,102 shares during the period. Finally, Kopernik Global Investors LLC grew its stake in shares of Ivanhoe Electric by 2.2% during the 2nd quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company's stock valued at $30,952,000 after purchasing an additional 72,376 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Ivanhoe Electric Company Profile

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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