Ivanhoe Electric Inc. (NYSEAMERICAN:IE) CEO Robert M. Friedland Acquires 416,666 Shares

Ivanhoe Electric Inc. (NYSEAMERICAN:IEGet Rating) CEO Robert M. Friedland purchased 416,666 shares of the company’s stock in a transaction on Friday, September 16th. The stock was acquired at an average price of 8.00 per share, with a total value of 3,333,328.00. Following the completion of the purchase, the chief executive officer now directly owns 8,962,557 shares in the company, valued at 71,700,456. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Ivanhoe Electric Price Performance

Shares of NYSEAMERICAN IE opened at 8.46 on Tuesday. Ivanhoe Electric Inc. has a 52-week low of 7.01 and a 52-week high of 12.04.

Analyst Ratings Changes

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

Institutional Trading of Ivanhoe Electric

A number of institutional investors and hedge funds have recently bought and sold shares of IE. UBS Group AG purchased a new position in shares of Ivanhoe Electric during the 2nd quarter worth about $26,000. Citadel Advisors LLC purchased a new position in shares of Ivanhoe Electric during the 2nd quarter worth about $117,000. Virtu Financial LLC purchased a new position in shares of Ivanhoe Electric during the 2nd quarter worth about $128,000. Jane Street Group LLC purchased a new position in shares of Ivanhoe Electric during the 2nd quarter worth about $162,000. Finally, Federated Hermes Inc. purchased a new stake in Ivanhoe Electric in the 2nd quarter valued at about $261,000. 35.34% of the stock is currently owned by institutional investors.

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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