Quentin Markin Sells 90,000 Shares of Ivanhoe Electric (NYSEAMERICAN:IE) Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Quentin Markin sold 90,000 shares of Ivanhoe Electric stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $16.34, for a total transaction of $1,470,600.00. Following the completion of the transaction, the insider directly owned 728,493 shares in the company, valued at approximately $11,903,575.62. The trade was a 11.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ivanhoe Electric Stock Down 1.0%

Shares of IE stock traded down $0.16 during trading hours on Wednesday, hitting $15.98. 1,777,013 shares of the company were exchanged, compared to its average volume of 1,342,344. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $17.90. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $14.21 and a two-hundred day moving average of $11.80. The company has a market capitalization of $2.31 billion, a PE ratio of -38.97 and a beta of 1.00.

Analysts Set New Price Targets

A number of analysts have recently commented on IE shares. JPMorgan Chase & Co. boosted their price target on Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. National Bank Financial upgraded Ivanhoe Electric to a “strong-buy” rating in a research note on Wednesday, September 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, October 28th. Raymond James Financial lifted their price objective on shares of Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, National Bankshares initiated coverage on shares of Ivanhoe Electric in a report on Wednesday, September 3rd. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Ivanhoe Electric has a consensus rating of “Buy” and an average target price of $15.70.

Institutional Trading of Ivanhoe Electric

Institutional investors have recently added to or reduced their stakes in the stock. Eagle Global Advisors LLC grew its position in Ivanhoe Electric by 7.6% during the 2nd quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company’s stock worth $154,000 after acquiring an additional 1,200 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Ivanhoe Electric by 3.8% in 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 grew its holdings in shares of Ivanhoe Electric by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock worth $118,000 after purchasing an additional 1,587 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ivanhoe Electric by 43.6% in the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after buying an additional 2,449 shares during the period. Finally, Swiss National Bank boosted its position in Ivanhoe Electric by 1.5% during the 3rd quarter. Swiss National Bank now owns 167,100 shares of the company’s stock valued at $2,097,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.