BNP Paribas Financial Markets Purchases Shares of 11,762 Ivanhoe Electric Inc. (NYSEAMERICAN:IE)

BNP Paribas Financial Markets purchased a new stake in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,762 shares of the company’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Ivanhoe Electric during the 4th quarter worth about $80,000. KLP Kapitalforvaltning AS acquired a new position in Ivanhoe Electric during the 4th quarter valued at about $103,000. Ameriprise Financial Inc. acquired a new position in Ivanhoe Electric during the 4th quarter valued at about $104,000. Dimensional Fund Advisors LP acquired a new position in Ivanhoe Electric during the 4th quarter valued at about $146,000. Finally, Arizona State Retirement System acquired a new position in Ivanhoe Electric during the 4th quarter valued at about $171,000. Institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IE. Raymond James set a $15.00 price target on shares of Ivanhoe Electric and gave the company an “outperform” rating in a research report on Friday, April 4th. JPMorgan Chase & Co. cut their price target on shares of Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.88.

Ivanhoe Electric Trading Down 0.4%

IE stock opened at $7.23 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The company has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $7.42. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $12.13. The stock has a market cap of $873.17 million, a price-to-earnings ratio of -4.55 and a beta of 0.74.

Insider Buying and Selling

In other Ivanhoe Electric news, CEO Joseph Taylor Melvin acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $5.76 per share, for a total transaction of $288,000.00. Following the acquisition, the chief executive officer now directly owns 730,753 shares in the company, valued at $4,209,137.28. This represents a 7.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jordan Neeser purchased 20,000 shares of Ivanhoe Electric stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $5.86 per share, for a total transaction of $117,200.00. Following the transaction, the chief financial officer now directly owns 40,000 shares in the company, valued at approximately $234,400. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders bought 75,000 shares of company stock valued at $434,350 over the last quarter. 10.50% of the stock is owned by company insiders.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.