Insider Selling: Ivanhoe Electric (NYSEAMERICAN:IE) CFO Sells $226,023.60 in Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CFO Jordan Neeser sold 17,123 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $13.20, for a total value 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. The trade was a 16.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ivanhoe Electric Stock Up 1.2%

NYSEAMERICAN:IE opened at $14.02 on Thursday. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $21.55. The stock’s fifty day moving average is $16.85 and its two-hundred day moving average is $14.30. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -17.75 and a beta of 0.98.

Institutional Investors Weigh In On Ivanhoe Electric

Several large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake in shares of Ivanhoe Electric by 13.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock valued at $118,000 after buying an additional 1,587 shares during the period. Geode Capital Management LLC raised its holdings in Ivanhoe Electric by 6.4% in the second quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock valued at $18,841,000 after acquiring an additional 125,111 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Ivanhoe Electric by 22.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 20,628 shares of the company’s stock worth $187,000 after acquiring an additional 3,822 shares during the last quarter. Primecap Management Co. CA grew its holdings in Ivanhoe Electric by 229.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,574,884 shares of the company’s stock worth $14,284,000 after acquiring an additional 1,097,484 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Ivanhoe Electric by 7.0% in the 2nd quarter. Swiss National Bank now owns 164,600 shares of the company’s stock valued at $1,493,000 after purchasing an additional 10,700 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

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

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.