Joseph Taylor Melvin Sells 6,808 Shares of Ivanhoe Electric (NYSEAMERICAN:IE) Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CEO Joseph Taylor Melvin sold 6,808 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.20, for a total transaction of $89,865.60. Following the transaction, the chief executive officer owned 626,110 shares in the company, valued at approximately $8,264,652. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ivanhoe Electric Stock Up 4.4%

Shares of Ivanhoe Electric stock opened at $13.86 on Wednesday. The company has a 50 day moving average price of $16.89 and a 200 day moving average price of $14.30. The firm has a market capitalization of $2.18 billion, a P/E ratio of -17.54 and a beta of 0.98. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $21.55.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Ivanhoe Electric from $18.00 to $22.00 and gave the company 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.13.

Trending Headlines about Ivanhoe Electric

Here are the key news stories impacting Ivanhoe Electric this week:

• Positive Sentiment: Short interest fell ~14.6% in February to ~8.29M shares (?6.0% of shares sold short), leaving a short-interest ratio of ~4.9 days — less immediate short-squeeze/short-pressure risk.
• Positive Sentiment: JPMorgan raised its price target to $22 and gave an “overweight” rating earlier this year — an analyst upgrade that supports bullish investor sentiment.
• Neutral Sentiment: Large institutional accumulation reported in recent quarters (Invesco, Wellington, Voloridge among others increased positions), increasing institutional ownership to roughly 79% — this can support liquidity and stability but also concentrates sell-side risk.
• Negative Sentiment: Cluster of insider sales on March 6: multiple senior officers sold a combined ~60,800 shares for roughly $800k at ~ $13.20 — including the CFO, SVP, CEO and several VPs. Significant insider selling can be read negatively by the market. Read More.
• Negative Sentiment: Specific insider trades: CFO Jordan Neeser sold 17,123 shares; SVP Glen Kuntz sold 14,863; VP Graham Boyd sold 11,147; CEO Joseph Melvin sold 6,808; VP Stephani Terhorst sold 6,233; Cassandra Pulskamp Joseph sold 4,664 (also disclosed earlier large February sales). These are material reductions in several officers’ holdings. Read More.
• Negative Sentiment: Options flow: a large volume of put purchases was reported, signaling increased hedging or outright bearish bets in the options market — this can amplify near-term downside if sustained. Read More.

Institutional Investors Weigh In On Ivanhoe Electric

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Ivanhoe Electric by 114.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,671,551 shares of the company’s stock valued at $202,493,000 after buying an additional 6,761,857 shares during the last quarter. Alyeska Investment Group L.P. raised its position in 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 worth $120,686,000 after buying an additional 5,451,646 shares during the last quarter. Wellington Management Group LLP raised its position in Ivanhoe Electric by 308.8% during the 4th quarter. Wellington Management Group LLP now owns 2,972,226 shares of the company’s stock worth $47,496,000 after buying an additional 2,245,110 shares during the last quarter. FIL Ltd acquired a new stake in Ivanhoe Electric during the 4th quarter valued at approximately $23,970,000. Finally, Potrero Capital Research LLC acquired a new stake in Ivanhoe Electric during the 3rd quarter valued at approximately $17,381,000. 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.