Ivanhoe Electric Inc. $IE Stock Position Decreased by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in shares of Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 31.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,214,463 shares of the company’s stock after selling 554,695 shares during the period. Legal & General Group Plc’s holdings in Ivanhoe Electric were worth $19,407,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IE. Potrero Capital Research LLC bought a new stake in shares of Ivanhoe Electric during the 3rd quarter valued at about $17,381,000. Vanguard Group Inc. grew its position in shares of Ivanhoe Electric by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 6,579,446 shares of the company’s stock valued at $105,140,000 after buying an additional 1,290,175 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Ivanhoe Electric by 79.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,828,284 shares of the company’s stock valued at $35,495,000 after buying an additional 1,253,400 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Ivanhoe Electric during the 3rd quarter valued at about $11,274,000. Finally, Wellington Management Group LLP acquired a new position in Ivanhoe Electric during the 3rd quarter valued at about $9,125,000. Institutional investors own 79.05% of the company’s stock.

Insider Buying and Selling at Ivanhoe Electric

In related news, CFO Jordan Neeser sold 17,123 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $13.20, for a total transaction of $226,023.60. Following the completion of the sale, the chief financial officer directly owned 84,247 shares of the company’s stock, valued at $1,112,060.40. This represents a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Graham Richard Thomas Boyd sold 11,147 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $13.20, for a total transaction of $147,140.40. Following the sale, the vice president directly owned 183,079 shares of the company’s stock, valued at approximately $2,416,642.80. This represents a 5.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 60,838 shares of company stock valued at $803,062. Corporate insiders own 12.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ivanhoe Electric Trading Up 1.7%

Shares of NYSEAMERICAN: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 firm has a market cap of $2.17 billion, a P/E ratio of -16.90 and a beta of 1.15. Ivanhoe Electric Inc. has a twelve month low of $7.39 and a twelve month high of $21.55.

Ivanhoe Electric 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.