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 the firm’s 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 transaction, the senior vice president owned 32,768 shares in the company, valued at approximately $432,537.60. This trade represents a 31.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ivanhoe Electric Price Performance

Shares of IE stock opened at $14.02 on Thursday. The stock has a market cap of $2.21 billion, a PE ratio of -17.75 and a beta of 0.98. The stock has a 50-day moving average of $16.85 and a 200-day moving average of $14.30. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $21.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 6,761,857 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Ivanhoe Electric by 259.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 7,552,332 shares of the company’s stock worth $120,686,000 after purchasing an additional 5,451,646 shares during the period. Vanguard Group Inc. raised its position in shares of Ivanhoe Electric by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock worth $105,140,000 after purchasing an additional 1,290,175 shares during the period. State Street Corp lifted its holdings in shares of Ivanhoe Electric by 16.1% during the 4th quarter. State Street Corp now owns 6,451,563 shares of the company’s stock valued at $103,096,000 after purchasing an additional 895,102 shares in the last quarter. Finally, Kopernik Global Investors LLC lifted its holdings in shares of Ivanhoe Electric by 2.2% during the 2nd quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock valued at $30,952,000 after purchasing an additional 72,376 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

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 research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.13.

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.