41,906 Shares in Ivanhoe Electric Inc. $IE Bought by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc bought a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) in the 4th quarter, Holdings Channel.com reports. The firm bought 41,906 shares of the company’s stock, valued at approximately $670,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in Ivanhoe Electric in the fourth quarter worth $56,000. Tower Research Capital LLC TRC boosted its position in Ivanhoe Electric by 146.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after buying an additional 3,713 shares during the period. IFP Advisors Inc boosted its position in Ivanhoe Electric by 138.1% during the third quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock valued at $83,000 after buying an additional 3,717 shares during the period. Comerica Bank boosted its position in Ivanhoe Electric by 352.3% during the third quarter. Comerica Bank now owns 6,997 shares of the company’s stock valued at $88,000 after buying an additional 5,450 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Ivanhoe Electric by 43.6% during the second quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock valued at $73,000 after buying an additional 2,449 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Ivanhoe Electric Stock Down 7.5%

NYSEAMERICAN IE opened at $12.76 on Friday. The company has a 50-day simple moving average of $13.06 and a two-hundred day simple moving average of $14.73. Ivanhoe Electric Inc. has a 12-month low of $6.53 and a 12-month high of $21.55. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -15.75 and a beta of 1.16.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price target on shares of Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $17.88.

Insider Buying and Selling at Ivanhoe Electric

In other news, CFO Jordan Neeser sold 17,123 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.20, for a total transaction 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 represents a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Taylor Melvin sold 6,808 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.20, for a total transaction of $89,865.60. Following the sale, the chief executive officer owned 626,110 shares of the company’s stock, valued at approximately $8,264,652. This represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 183,912 shares of company stock valued at $2,831,321. 12.06% of the stock is currently owned by insiders.

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.