Ivanhoe Electric (NYSEAMERICAN:IE) Shares Gap Down to $8.86

Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Rating) gapped down prior to trading on Friday . The stock had previously closed at 8.86, but opened at 8.31. Ivanhoe Electric shares last traded at 7.98, with a volume of 1,516 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Ivanhoe Electric in a research note on Thursday, August 18th. They issued a “neutral” rating and a $12.00 target price for the company. BMO Capital Markets assumed coverage on shares of Ivanhoe Electric in a report on Monday, July 25th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on shares of Ivanhoe Electric in a report on Monday, July 25th. They issued a “buy” rating and a $13.50 price target for the company.

Ivanhoe Electric Trading Down 10.3 %

Insider Buying and Selling at Ivanhoe Electric

In other Ivanhoe Electric news, major shareholder I-Pulse Inc. sold 833,332 shares of Ivanhoe Electric stock in a transaction on Friday, September 16th. The shares were sold at an average price of 8.00, for a total value of 6,666,656.00. Following the sale, the insider now directly owns 10,172,161 shares in the company, valued at approximately 81,377,288. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert M. Friedland acquired 416,666 shares of the stock in a transaction dated Friday, September 16th. The shares were bought at an average cost of 8.00 per share, for a total transaction of 3,333,328.00. Following the purchase, the chief executive officer now directly owns 8,962,557 shares of the company’s stock, valued at 71,700,456. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder I-Pulse Inc. sold 833,332 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of 8.00, for a total transaction of 6,666,656.00. Following the transaction, the insider now owns 10,172,161 shares in the company, valued at 81,377,288. The disclosure for this sale can be found here.

Institutional Trading of Ivanhoe Electric

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new stake in shares of Ivanhoe Electric during the 2nd quarter worth approximately $4,094,000. Jane Street Group LLC bought a new stake in shares of Ivanhoe Electric during the 2nd quarter worth approximately $162,000. Citadel Advisors LLC bought a new stake in shares of Ivanhoe Electric during the 2nd quarter worth approximately $117,000. UBS Group AG bought a new stake in shares of Ivanhoe Electric during the 2nd quarter worth approximately $26,000. Finally, Federated Hermes Inc. acquired a new position in Ivanhoe Electric during the 2nd quarter worth approximately $261,000. Institutional investors own 35.34% of the company’s stock.

About Ivanhoe Electric

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Ivanhoe Electric Inc operates as a mineral exploration and development company in the United States. It operates through Critical Metals, Technology, and Energy Storage. The company holds 84.6% interests in the Tintic copper-gold project covering an area of 65 square kilometers located in Utah. It also holds an option to acquire a 100% interest in the Santa Cruz copper project covering an area of 77.59 square kilometers located in Arizona; 75% interest in the Hog Heaven silver-gold-copper project covering an area of 24.2 square kilometers located in Montana; and 60% interest in the Ivory Coast project covering an area of 1,125 square kilometers located in the Ivory Coast.

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