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

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) insider Cassandra Pulskamp Joseph sold 123,074 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $16.48, for a total value of $2,028,259.52. Following the completion of the transaction, the insider owned 51,370 shares in the company, valued at $846,577.60. This represents a 70.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ivanhoe Electric Stock Up 2.9%

IE stock traded up $0.49 during trading on Friday, reaching $17.19. The stock had a trading volume of 1,988,733 shares, compared to its average volume of 1,949,775. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -21.76 and a beta of 0.98. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $21.55. The company’s 50 day moving average is $17.12 and its two-hundred day moving average is $13.94.

Institutional Investors Weigh In On Ivanhoe Electric

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 worth $202,493,000 after acquiring an additional 6,761,857 shares during the period. Alyeska Investment Group L.P. lifted its holdings in Ivanhoe Electric by 259.5% during the 4th 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 in the last quarter. Wellington Management Group LLP boosted its stake in Ivanhoe Electric by 308.8% in the 4th quarter. Wellington Management Group LLP now owns 2,972,226 shares of the company’s stock worth $47,496,000 after purchasing an additional 2,245,110 shares during the period. FIL Ltd purchased a new position in Ivanhoe Electric during the 4th quarter valued at about $23,970,000. Finally, Potrero Capital Research LLC bought a new stake in shares of Ivanhoe Electric during the third quarter valued at about $17,381,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

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