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TEMPE, AZ—Jordan Neeser, the Chief Financial Officer of Ivanhoe Electric Inc . (NYSE:IE), recently purchased a substantial amount of the company’s common stock. According to a recent SEC filing, Neeser acquired a total of 20,000 shares on March 5, 2025. The shares were bought at prices ranging from $5.84 to $5.87 per share, amounting to a total investment of $117,100. The purchase comes as the stock trades near its 52-week low of $5.37, having declined 21% year-to-date. InvestingPro analysis shows analyst price targets ranging from $10 to $20, suggesting potential upside.
This transaction increased Neeser’s total holdings to 40,000 shares. The purchases were made directly, reflecting Neeser’s confidence in the company’s prospects. Ivanhoe Electric Inc., with a market capitalization of $790 million, is known for its operations in the metal mining sector. While the company maintains strong liquidity with a current ratio of 2.07, InvestingPro data indicates rapid cash consumption requires careful monitoring. Subscribers can access 5 additional ProTips and detailed insider trading analysis.
In other recent news, Ivanhoe Electric Inc. announced the completion of its public offering, successfully raising approximately $66 million in net proceeds. The offering involved 11,794,872 units, each priced at $5.85, and included a warrant to purchase an additional share. Concurrently, Ivanhoe Electric has disclosed plans for another $50 million underwritten public offering, aiming to strengthen its financial position and support ongoing operations. The company filed a preliminary prospectus supplement with the SEC in connection with this upcoming offering. Notably, the Executive Chairman, Robert Friedland, participated in the previous offering by purchasing 816,667 units. Additionally, Ivanhoe Electric’s Board of Directors approved changes to the company’s bylaws, reducing the stockholder vote requirement from a supermajority to a simple majority for bylaw amendments. These changes await further approval during the company’s annual meeting in 2025. The revised bylaws also reject the applicability of Arizona’s Corporate Takeover Laws, subject to legal conditions.
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