Ivanhoe Electric Sees Unusually Large Options Volume (NYSEAMERICAN:IE)

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 6,987 call options on the stock. This represents an increase of approximately 106% compared to the average volume of 3,386 call options.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ivanhoe Electric

In related news, VP Graham Richard Thomas Boyd sold 134,059 shares of Ivanhoe Electric stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $8.92, for a total transaction of $1,195,806.28. Following the completion of the sale, the vice president owned 194,226 shares of the company’s stock, valued at approximately $1,732,495.92. This trade represents a 40.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.06% of the company’s stock.

Institutional Investors Weigh In On Ivanhoe Electric

Institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new stake in Ivanhoe Electric in the first quarter valued at about $67,000. Jennison Associates LLC grew its stake in Ivanhoe Electric by 7.4% during the first quarter. Jennison Associates LLC now owns 705,716 shares of the company’s stock worth $4,100,000 after buying an additional 48,332 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Ivanhoe Electric during the 1st quarter worth approximately $662,000. Federated Hermes Inc. increased its stake in shares of Ivanhoe Electric by 68.8% in the first quarter. Federated Hermes Inc. now owns 27,000 shares of the company’s stock valued at $157,000 after buying an additional 11,000 shares in the last quarter. Finally, Vestcor Inc increased its position in Ivanhoe Electric by 191.5% in the 1st quarter. Vestcor Inc now owns 722,781 shares of the company’s stock valued at $4,199,000 after acquiring an additional 474,800 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Ivanhoe Electric Stock Performance

Shares of NYSEAMERICAN:IE traded down $0.16 on Tuesday, hitting $12.06. 451,205 shares of the company were exchanged, compared to its average volume of 1,251,720. The company’s 50 day moving average price is $12.79 and its two-hundred day moving average price is $10.20. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -29.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.41 and a current ratio of 1.41. Ivanhoe Electric has a one year low of $4.50 and a one year high of $17.90.

Ivanhoe Electric Company Profile

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.