Cassandra Pulskamp Joseph Sells 123,074 Shares of Ivanhoe Electric (NYSEAMERICAN:IE) Stock

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Cassandra Pulskamp Joseph sold 123,074 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $16.48, for a total transaction of $2,028,259.52. Following the sale, the insider owned 51,370 shares of the company’s stock, valued at approximately $846,577.60. This represents a 70.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ivanhoe Electric Price Performance

IE stock opened at $17.19 on Friday. Ivanhoe Electric Inc. has a 1 year low of $4.50 and a 1 year high of $21.55. The company has a market cap of $2.71 billion, a P/E ratio of -21.76 and a beta of 0.98. The stock’s fifty day moving average price is $17.15 and its 200-day moving average price is $14.02.

Institutional Trading of Ivanhoe Electric

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc lifted its position in shares of Ivanhoe Electric by 44.5% in the second quarter. Legal & General Group Plc now owns 1,759,911 shares of the company’s stock valued at $15,962,000 after acquiring an additional 541,719 shares in the last quarter. Kopernik Global Investors LLC raised its stake in 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 during the period. Formula Growth Ltd. raised its stake in Ivanhoe Electric by 187.8% during the 2nd quarter. Formula Growth Ltd. now owns 247,934 shares of the company’s stock valued at $2,249,000 after purchasing an additional 161,774 shares during the period. Geode Capital Management LLC lifted its holdings in Ivanhoe Electric by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock worth $18,841,000 after purchasing an additional 125,111 shares in the last quarter. Finally, Bosun Asset Management LLC bought a new position in Ivanhoe Electric in the 2nd quarter worth approximately $1,039,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

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