Ivanhoe Electric (NYSEAMERICAN:IE) Insider Quentin Markin Sells 90,000 Shares

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Quentin Markin sold 90,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.34, for a total value of $1,470,600.00. Following the completion of the sale, the insider directly owned 728,493 shares in the company, valued at $11,903,575.62. The trade was a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ivanhoe Electric Trading Down 1.0%

IE traded down $0.16 during midday trading on Wednesday, reaching $15.98. 1,777,013 shares of the company’s stock traded hands, compared to its average volume of 1,342,344. Ivanhoe Electric Inc. has a 52 week low of $4.50 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a fifty day moving average of $14.21 and a two-hundred day moving average of $11.80. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -38.97 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IE shares. JPMorgan Chase & Co. raised their target price on shares of Ivanhoe Electric from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Electric in a research note on Tuesday, October 28th. Raymond James Financial raised their price target on Ivanhoe Electric from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, October 10th. National Bankshares started coverage on shares of Ivanhoe Electric in a research note on Wednesday, September 3rd. They issued an “outperform” rating on the stock. Finally, National Bank Financial upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.70.

Institutional Trading of Ivanhoe Electric

A number of institutional investors have recently made changes to their positions in the stock. Eagle Global Advisors LLC raised its holdings in shares of Ivanhoe Electric by 7.6% during the second quarter. Eagle Global Advisors LLC now owns 17,000 shares of the company’s stock valued at $154,000 after purchasing an additional 1,200 shares during the last quarter. Invesco Ltd. boosted its holdings in Ivanhoe Electric by 3.8% in the second quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after purchasing an additional 1,247 shares during the last quarter. Teacher Retirement System of Texas grew its position in Ivanhoe Electric by 13.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,033 shares of the company’s stock worth $118,000 after purchasing an additional 1,587 shares during the period. BNP Paribas Financial Markets grew its position in Ivanhoe Electric by 43.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,063 shares of the company’s stock worth $73,000 after purchasing an additional 2,449 shares during the period. Finally, Swiss National Bank raised its stake in Ivanhoe Electric by 1.5% during the 3rd quarter. Swiss National Bank now owns 167,100 shares of the company’s stock valued at $2,097,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.