UBS Group AG Sells 117,819 Shares of Ivanhoe Electric Inc. $IE

UBS Group AG cut its stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 40.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,029 shares of the company’s stock after selling 117,819 shares during the period. UBS Group AG’s holdings in Ivanhoe Electric were worth $2,733,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky bought a new stake in Ivanhoe Electric in the fourth quarter valued at approximately $1,572,000. Vanguard Group Inc. boosted its holdings in Ivanhoe Electric by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock valued at $105,140,000 after acquiring an additional 1,290,175 shares during the last quarter. U S Global Investors Inc. boosted its holdings in Ivanhoe Electric by 28.7% in the fourth quarter. U S Global Investors Inc. now owns 51,499 shares of the company’s stock valued at $823,000 after acquiring an additional 11,499 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Ivanhoe Electric by 1.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,248 shares of the company’s stock valued at $1,924,000 after acquiring an additional 1,536 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ivanhoe Electric by 3.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,657 shares of the company’s stock valued at $441,000 after acquiring an additional 957 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Insider Transactions at Ivanhoe Electric

In other Ivanhoe Electric news, insider Cassandra Pulskamp Joseph sold 123,074 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $16.48, for a total value of $2,028,259.52. Following the transaction, the insider directly owned 51,370 shares of the company’s stock, valued at approximately $846,577.60. The trade was a 70.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Taylor Melvin sold 6,808 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 $89,865.60. Following the completion of the transaction, the chief executive officer directly owned 626,110 shares in the company, valued at approximately $8,264,652. This trade represents a 1.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 183,912 shares of company stock valued at $2,831,321. 12.06% of the stock is owned by insiders.

Ivanhoe Electric Price Performance

Shares of IE stock opened at $11.80 on Tuesday. The business’s 50 day simple moving average is $12.88 and its 200 day simple moving average is $14.65. Ivanhoe Electric Inc. has a one year low of $6.69 and a one year high of $21.55. The stock has a market capitalization of $1.87 billion, a PE ratio of -14.57 and a beta of 1.16.

Wall Street Analysts Forecast Growth

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

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.