Investing in Ivanhoe Electric Inc. (IE): What You Must Know


Ivanhoe Electric Inc.’s recently made public that its Executive Chairman FRIEDLAND ROBERT M acquired Company’s shares for reported $4.16 million on Nov 29. In the deal valued at $9.85 per share,422,767 shares were bought. As a result of this transaction, FRIEDLAND ROBERT M now holds 9,385,324 shares worth roughly $ 153.26 million.

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Then, I-Pulse Inc. sold 416,666 shares, generating $3,333,328 in total proceeds. Upon selling the shares at $8.00, the 10% Owner now owns 9,755,495 shares.

Before that, FRIEDLAND ROBERT M bought 416,666 shares. Ivanhoe Electric Inc. shares valued at $3,333,328 were divested by the Chief Executive Officer at a price of $8.00 per share. As a result of the transaction, FRIEDLAND ROBERT M now holds 8,962,557 shares, worth roughly $146.36 million.

Scotiabank initiated its Ivanhoe Electric Inc. [IE] rating to a Sector perform in a research note published on Monday, December 22, 2022; the price target was $14. PT values the company’s stock at a premium of -16.64 to its Monday closing price. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in late September with a ‘”an Outperform”‘ rating. JP Morgan began covering IE with “Neutral” recommendation on August 18, 2022. Jefferies started covering the stock on July 25, 2022. It rated IE as “a Buy”.

Price Performance Review of IE

On Monday, Ivanhoe Electric Inc. [AMEX:IE] saw its stock jump 3.16% to $16.33. On the same session, the stock had its day’s lowest price of $15.55, but rose to a high of $16.55. Over the last five days, the stock has gained 13.64%. Ivanhoe Electric Inc. shares have risen nearly 34.40% since the year began. A total of 0.51 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For IE Stock

The 24-hour chart illustrates a support level at 15.74, which if violated will result in even more drops to 15.14. On the upside, there is a resistance level at 16.74. A further resistance level may holdings at 17.14. The Relative Strength Index (RSI) on the 14-day chart is 68.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 6.03%. Stochastics %K at 88.47% indicates the stock is a selling.

How much short interest is there in Ivanhoe Electric Inc.?

A steep rise in short interest was recorded in Ivanhoe Electric Inc. stocks on Jan 30, 2023, dropping by -0.16 million shares to a total of 0.83 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 0.99 million shares. There was a decline of -18.84%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.54% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.1.

Ivanhoe Electric Inc. [IE] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 8,598,909 shares, or roughly 9.26% of the outstanding IE shares. Additionally, SailingStone Capital Partners LLC increased 1.00% of its stake after which the total value it holdings stand at $53,452,859. Over the last quarter, BlackRock Investment Management purchased 203,689 shares of Ivanhoe Electric Inc., while Fidelity Investments Canada ULC bought 0 shares. At present, Kopernik Global Investors LLC is holding 1,114,117 shares valued at $14.76 million. Ontario Teachers’ Pension Plan Bo owned 959,484 shares of the company at the time of its most recent 13F filing, worth $12.71 million.

According to FactSet, Ivanhoe Electric Inc.’s share price will average $17.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.39 percent from its previous closing price of $15.83. Analysts expect Ivanhoe Electric Inc. stock to reach the higher price of $19.00, while the lowest price estimate is $16.00. However, 4 analysts have rated IE stock as a Buy in their predictions for 2023. The most recent change occurred on July 25, 2022 when BMO Capital Markets began covering the stock and recommended ‘”an Outperform”‘ rating along with a $15 price target.


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