Key Points
- CFO Jordan Neeser sold 17,123 shares at an average price of $13.20 on March 6, part of a broader insider sell-off that totaled about 60,838 shares (~$803,000) and reduced several officers' holdings by double-digit percentages.
- JPMorgan upgraded Ivanhoe Electric to "overweight" and raised its price target to $22, while the Street consensus remains a "Buy" with an average target of $18.13.
- Institutional investors have been adding exposure, with large increases from firms like Invesco and Wellington, leaving institutions owning about 79.05% of the company's shares.
Ivanhoe Electric Inc. (NYSEAMERICAN:IE - Get Free Report) insider Cassandra Pulskamp Joseph sold 4,664 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.20, for a total value of $61,564.80. Following the completion of the transaction, the insider directly owned 46,706 shares in the company, valued at $616,519.20. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cassandra Pulskamp Joseph also recently made the following trade(s):
- On Wednesday, February 25th, Cassandra Pulskamp Joseph sold 123,074 shares of Ivanhoe Electric stock. The shares were sold at an average price of $16.48, for a total value of $2,028,259.52.
Ivanhoe Electric Stock Performance
Shares of IE opened at $13.28 on Tuesday. The stock has a fifty day moving average price of $16.93 and a two-hundred day moving average price of $14.27. Ivanhoe Electric Inc. has a 52-week low of $4.50 and a 52-week high of $21.55. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -16.81 and a beta of 0.97.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. lifted their price target on Ivanhoe Electric from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, Ivanhoe Electric presently has a consensus rating of "Buy" and an average target price of $18.13.
Read Our Latest Stock Analysis on IE
Institutional Trading of Ivanhoe Electric
Several hedge funds have recently modified their holdings of IE. Invesco Ltd. increased its holdings in shares of Ivanhoe Electric by 643.9% in the fourth quarter. Invesco Ltd. now owns 359,268 shares of the company's stock valued at $5,741,000 after purchasing an additional 310,972 shares in the last quarter. Empowered Funds LLC acquired a new position in Ivanhoe Electric during the 4th quarter worth $268,000. XTX Topco Ltd acquired a new position in Ivanhoe Electric during the 4th quarter worth $697,000. Voloridge Investment Management LLC boosted its position in Ivanhoe Electric by 176.6% in the 4th quarter. Voloridge Investment Management LLC now owns 200,990 shares of the company's stock valued at $3,212,000 after buying an additional 128,323 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position 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 valued at $47,496,000 after buying an additional 2,245,110 shares during the last quarter. 79.05% of the stock is owned by institutional investors.
Trending Headlines about Ivanhoe Electric
Here are the key news stories impacting Ivanhoe Electric this week:
- Negative Sentiment: Several senior insiders — including the CFO (Jordan Neeser), SVP (Glen Kuntz), a VP (Graham Boyd), another VP (Stephani Terhorst), the CEO (Joseph Melvin) and an insider Cassandra Pulskamp Joseph — sold a combined ~60,838 shares for roughly $803,000 at about $13.20 per share on March 6. The sales reduced multiple officers' stakes (several by double-digit percentages). SEC filing (example)
- Negative Sentiment: Specific insider filings: Graham Richard Thomas Boyd sold 11,147 shares for $147,140.40 (SEC filing). SEC filing
- Negative Sentiment: Cassandra Pulskamp Joseph sold 4,664 shares for $61,564.80 (SEC filing). SEC filing
- Negative Sentiment: CEO Joseph Taylor Melvin sold 6,808 shares for $89,865.60 (SEC filing). SEC filing
- Negative Sentiment: VP Stephani Terhorst sold 6,233 shares for $82,275.60 — a ~33% reduction in her holding (SEC filing). SEC filing
- Negative Sentiment: CFO Jordan Neeser sold 17,123 shares for $226,023.60, reducing his stake by ~16.9% (SEC filing). SEC filing
- Negative Sentiment: SVP Glen Nickolas Kuntz sold 14,863 shares for $196,191.60, cutting his position by ~31% (SEC filing). SEC filing
- Negative Sentiment: Traders bought a large volume of put options on IE, indicating increased hedging or bearish bets in the options market. This can amplify downside pressure if it reflects broader short interest or hedging flows. American Banking News article
Ivanhoe Electric Company Profile
(
Get Free Report)
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.
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