Ivanhoe Electric Inc. $IE Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE – Free Report) by 31.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,214,463 shares of the company’s stock after selling 554,695 shares during the quarter. Legal & General Group Plc owned about 0.84% of Ivanhoe Electric worth $19,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Ivanhoe Electric during the 4th quarter valued at $56,000. Tower Research Capital LLC TRC lifted its holdings in shares of Ivanhoe Electric by 146.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,256 shares of the company’s stock valued at $57,000 after acquiring an additional 3,713 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Ivanhoe Electric by 138.1% during the 3rd quarter. IFP Advisors Inc now owns 6,408 shares of the company’s stock valued at $83,000 after acquiring an additional 3,717 shares in the last quarter. Comerica Bank lifted its holdings in Ivanhoe Electric by 352.3% in the 3rd quarter. Comerica Bank now owns 6,997 shares of the company’s stock worth $88,000 after buying an additional 5,450 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings 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 buying an additional 2,449 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

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Ivanhoe Electric Stock Performance

IE opened at $13.69 on Tuesday. The company has a 50-day moving average of $13.01 and a 200-day moving average of $14.67. The company has a market capitalization of $2.17 billion, a P/E ratio of -16.90 and a beta of 1.15. Ivanhoe Electric Inc. has a 1-year low of $7.39 and a 1-year high of $21.55.

Insider Buying and Selling

In other news, CEO Joseph Taylor Melvin sold 6,808 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.20, for a total value of $89,865.60. Following the completion of the sale, the chief executive officer owned 626,110 shares of the company’s stock, valued at approximately $8,264,652. The trade was a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephani Terhorst sold 6,233 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.20, for a total transaction of $82,275.60. Following the completion of the sale, the vice president directly owned 12,466 shares of the company’s stock, valued at $164,551.20. The trade was a 33.33% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 60,838 shares of company stock worth $803,062. 12.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price objective on shares of Ivanhoe Electric from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.88.

View Our Latest Research Report on IE

About Ivanhoe Electric

(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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