Ivanhoe Electric (NYSEAMERICAN:IE) Shares Gap Down Following Insider Selling

Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report)'s stock price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $12.00, but opened at $11.68. Ivanhoe Electric shares last traded at $11.36, with a volume of 49,026 shares trading hands.

Specifically, VP Graham Richard Thomas Boyd bought 4,000 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $7.44 per share, for a total transaction of $29,760.00. Following the completion of the acquisition, the vice president now owns 6,510 shares of the company's stock, valued at $48,434.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ivanhoe Electric news, insider Mark Andrew Stuart Gibson sold 25,000 shares of the business's stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $12.16, for a total value of $304,000.00. Following the completion of the transaction, the insider now owns 260,272 shares of the company's stock, valued at approximately $3,164,907.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Graham Richard Thomas Boyd bought 4,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was acquired at an average cost of $7.44 per share, with a total value of $29,760.00. Following the transaction, the vice president now owns 6,510 shares in the company, valued at approximately $48,434.40. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price objective on Ivanhoe Electric from $15.50 to $14.50 and set a "sector outperform" rating for the company in a research note on Tuesday, April 9th.

Ivanhoe Electric Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 4.89 and a quick ratio of 4.76. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -10.50 and a beta of 0.87.

Ivanhoe Electric (NYSEAMERICAN:IE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.80. Ivanhoe Electric had a negative return on equity of 33.64% and a negative net margin of 3,007.59%. The business had revenue of $0.36 million for the quarter, compared to the consensus estimate of $1.00 million. As a group, sell-side analysts expect that Ivanhoe Electric Inc. will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Ivanhoe Electric

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in shares of Ivanhoe Electric by 118.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,096 shares of the company's stock worth $73,000 after purchasing an additional 3,307 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Ivanhoe Electric during the fourth quarter worth about $89,000. Tower Research Capital LLC TRC lifted its holdings in shares of Ivanhoe Electric by 112.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,401 shares of the company's stock worth $95,000 after purchasing an additional 4,967 shares during the period. MQS Management LLC acquired a new stake in shares of Ivanhoe Electric during the first quarter worth about $100,000. Finally, LexAurum Advisors LLC acquired a new stake in shares of Ivanhoe Electric during the fourth quarter worth about $107,000. Institutional investors and hedge funds own 79.05% of the company's stock.

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.