Ivanhoe Electric (NYSEAMERICAN:IE) SVP Sells $196,191.60 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) SVP Glen Nickolas Kuntz sold 14,863 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 $196,191.60. Following the sale, the senior vice president directly owned 32,768 shares of the company’s stock, valued at approximately $432,537.60. This represents a 31.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ivanhoe Electric Stock Performance

NYSEAMERICAN IE traded up $0.15 during trading hours on Monday, reaching $13.28. The stock had a trading volume of 2,247,970 shares, compared to its average volume of 1,959,510. Ivanhoe Electric Inc. has a 52-week low of $4.50 and a 52-week high of $21.55. The stock has a fifty day moving average of $16.99 and a 200 day moving average of $14.24. The stock has a market cap of $2.09 billion, a P/E ratio of -16.81 and a beta of 0.97.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their target price on shares of Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.13.

Institutional Trading of Ivanhoe Electric

Several institutional investors have recently modified their holdings of IE. Invesco Ltd. boosted its holdings in Ivanhoe Electric by 643.9% in the 4th quarter. Invesco Ltd. now owns 359,268 shares of the company’s stock worth $5,741,000 after buying an additional 310,972 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Ivanhoe Electric during the fourth quarter valued at approximately $268,000. XTX Topco Ltd purchased a new position in shares of Ivanhoe Electric in the fourth quarter valued at approximately $697,000. Voloridge Investment Management LLC lifted its position in shares of Ivanhoe Electric by 176.6% in the fourth quarter. Voloridge Investment Management LLC now owns 200,990 shares of the company’s stock valued at $3,212,000 after acquiring an additional 128,323 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Ivanhoe Electric by 308.8% in the fourth quarter. Wellington Management Group LLP now owns 2,972,226 shares of the company’s stock worth $47,496,000 after acquiring an additional 2,245,110 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Ivanhoe Electric

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.