Vestcor Inc Lowers Stock Holdings in Ivanhoe Electric Inc. $IE

Vestcor Inc reduced its position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) by 17.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,181 shares of the company’s stock after selling 115,900 shares during the quarter. Vestcor Inc owned approximately 0.38% of Ivanhoe Electric worth $6,917,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of Ivanhoe Electric by 44.5% in the second quarter. Legal & General Group Plc now owns 1,759,911 shares of the company’s stock valued at $15,962,000 after purchasing an additional 541,719 shares during the period. Formula Growth Ltd. increased its stake in Ivanhoe Electric by 187.8% during the 2nd quarter. Formula Growth Ltd. now owns 247,934 shares of the company’s stock worth $2,249,000 after buying an additional 161,774 shares during the period. Kopernik Global Investors LLC increased its stake in Ivanhoe Electric by 2.2% during the 2nd quarter. Kopernik Global Investors LLC now owns 3,412,561 shares of the company’s stock worth $30,952,000 after buying an additional 72,376 shares during the period. Geode Capital Management LLC lifted its holdings in Ivanhoe Electric by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,077,062 shares of the company’s stock worth $18,841,000 after buying an additional 125,111 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ivanhoe Electric by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,289,271 shares of the company’s stock worth $66,380,000 after buying an additional 80,693 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price target on shares of Ivanhoe Electric from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.13.

Ivanhoe Electric Price Performance

IE stock opened at $13.28 on Tuesday. The business’s 50-day moving average is $16.93 and its two-hundred day moving average is $14.27. The firm has a market capitalization of $2.09 billion, a P/E ratio of -16.81 and a beta of 0.97. Ivanhoe Electric Inc. has a 1 year low of $4.50 and a 1 year high of $21.55.

Ivanhoe Electric News Roundup

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

Insider Activity

In related news, VP Stephani Terhorst sold 6,233 shares of the company’s 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 $82,275.60. Following the sale, the vice president directly owned 12,466 shares in the company, valued at approximately $164,551.20. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Taylor Melvin sold 6,808 shares of the firm’s 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 $89,865.60. Following the completion of the sale, the chief executive officer directly owned 626,110 shares in the company, valued at approximately $8,264,652. This trade represents a 1.08% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 273,912 shares of company stock valued at $4,301,921. 12.06% of the stock is owned by corporate insiders.

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.