Joseph Taylor Melvin Purchases 50,000 Shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CEO Joseph Taylor Melvin purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the transaction, the chief executive officer now directly owns 730,753 shares of the company’s stock, valued at $4,209,137.28. This trade represents a 7.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Ivanhoe Electric Trading Up 1.8 %

NYSEAMERICAN:IE opened at $5.81 on Thursday. The company has a market capitalization of $701.67 million, a PE ratio of -3.65 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The business’s 50-day moving average price is $6.56. Ivanhoe Electric Inc. has a 1-year low of $5.34 and a 1-year high of $12.98.

Analyst Ratings Changes

A number of research analysts recently commented on IE shares. Scotiabank decreased their price target on Ivanhoe Electric from $14.00 to $13.50 and set a “sector outperform” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Ivanhoe Electric from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group decreased their target price on Ivanhoe Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Institutional Trading of Ivanhoe Electric

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC acquired a new position in shares of Ivanhoe Electric in the third quarter worth approximately $32,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ivanhoe Electric in the fourth quarter worth approximately $80,000. BNP Paribas Financial Markets acquired a new position in shares of Ivanhoe Electric in the fourth quarter worth approximately $89,000. Eagle Global Advisors LLC acquired a new position in shares of Ivanhoe Electric in the fourth quarter worth approximately $100,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Ivanhoe Electric in the fourth quarter worth approximately $103,000. 79.05% of the stock is currently owned by institutional investors.

About Ivanhoe Electric

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.