Ivanhoe Electric Target of Unusually High Options Trading (NYSEAMERICAN:IE)

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 21,669 put options on the company. This represents an increase of 750% compared to the average daily volume of 2,550 put options.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their target price on Ivanhoe Electric from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.13.

Ivanhoe Electric Trading Up 5.3%

Shares of IE stock traded up $0.63 during trading on Wednesday, hitting $12.45. The company’s stock had a trading volume of 763,087 shares, compared to its average volume of 2,112,473. The company has a market cap of $1.96 billion, a PE ratio of -15.76 and a beta of 0.98. The business has a fifty day moving average of $15.31 and a 200-day moving average of $14.61. Ivanhoe Electric has a 52 week low of $4.50 and a 52 week high of $21.55.

Insider Activity at Ivanhoe Electric

In other news, VP Stephani Terhorst sold 6,233 shares of the firm’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 transaction, the vice president directly owned 12,466 shares in the company, valued at $164,551.20. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cassandra Pulskamp Joseph sold 4,664 shares of Ivanhoe Electric 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 approximately $616,519.20. This represents a 9.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 183,912 shares of company stock worth $2,831,321 over the last 90 days. 12.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ivanhoe Electric

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank lifted its stake in Ivanhoe Electric by 7.0% during the second quarter. Swiss National Bank now owns 164,600 shares of the company’s stock worth $1,493,000 after purchasing an additional 10,700 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ivanhoe Electric by 24.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 89,686 shares of the company’s stock worth $813,000 after buying an additional 17,896 shares during the last quarter. Rhumbline Advisers lifted its position in Ivanhoe Electric by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 121,285 shares of the company’s stock worth $1,100,000 after buying an additional 8,622 shares during the last quarter. Invesco Ltd. boosted its stake in Ivanhoe Electric by 3.8% in the second quarter. Invesco Ltd. now owns 33,674 shares of the company’s stock worth $305,000 after buying an additional 1,247 shares in the last quarter. Finally, Bosun Asset Management LLC purchased a new stake in Ivanhoe Electric in the second quarter worth approximately $1,039,000. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Company 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.