An executive at Ivanhoe Electric Inc. (NYSE:IE), Chief Geophysics Officer Mark Andrew Stuart Gibson, has recently sold a portion of his company shares, according to the latest filings. The transaction, which took place on May 20, 2024, involved the sale of 25,000 shares at an average price of $12.16 per share, amounting to a total of $304,000.
The shares were sold in multiple transactions, with prices ranging from $12.06 to $12.24. Following the sale, Gibson still retains a significant stake in the company, owning 260,272 shares of common stock. The exact number of shares sold at each price within the reported range is available upon request from the company or the Securities and Exchange Commission.
Ivanhoe Electric Inc., a player in the metal mining industry, has its shares publicly traded under the ticker IE. The company is incorporated in Delaware and is based in Tempe, Arizona. This recent transaction provides a glimpse into the trading activities of the company's insiders and may be of interest to current and potential investors who follow insider trading patterns.
The sale was disclosed in accordance with regulatory requirements and the details of the transaction are fully available for public review.
InvestingPro Insights
Amidst the insider trading activity at Ivanhoe Electric Inc. (NYSE:IE), a closer look at the company's financial metrics and market performance provided by InvestingPro offers additional context for investors. The company currently holds a Market Cap (Adjusted) of approximately $1.47 billion USD. Although Ivanhoe Electric has experienced a significant Revenue Growth over the last twelve months as of Q1 2024, with an increase of 52.06%, it also reported a quarterly Revenue Growth decline of -46.98% in Q1 2024.
An important InvestingPro Tip to note is that Ivanhoe Electric is not profitable over the last twelve months, which is reflected in its negative P/E Ratio (Adjusted) of -6.68. This insight aligns with the insider transaction, as it may suggest that executives are considering the company's current financial standing and future outlook. Additionally, the company's Price / Book ratio as of Q1 2024 stands at 4.39, indicating that the stock might be trading at a high valuation relative to its book value.
For investors interested in the company's performance, Ivanhoe Electric has demonstrated a strong return over the last three months with a 60.86% price total return, which could be a signal of recovering investor confidence or market momentum. To gain a deeper understanding of Ivanhoe Electric's financial health and market position, there are additional InvestingPro Tips available that can be accessed by visiting https://www.investing.com/pro/IE. For those looking to subscribe to InvestingPro for more in-depth analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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