95,603 Shares in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in Ivanhoe Electric Inc. (NYSEAMERICAN:IE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 95,603 shares of the company’s stock, valued at approximately $722,000.

A number of other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in Ivanhoe Electric during the fourth quarter valued at approximately $89,000. Ameriprise Financial Inc. bought a new stake in shares of Ivanhoe Electric during the 4th quarter valued at $104,000. Alyeska Investment Group L.P. grew its position in shares of Ivanhoe Electric by 4.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,081,096 shares of the company’s stock valued at $15,712,000 after acquiring an additional 95,749 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Ivanhoe Electric by 13.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,843,058 shares of the company’s stock worth $36,566,000 after purchasing an additional 589,456 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Ivanhoe Electric by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 51,922 shares of the company’s stock worth $392,000 after purchasing an additional 2,948 shares during the period. Institutional investors own 79.05% of the company’s stock.

Ivanhoe Electric Price Performance

Shares of IE stock opened at $6.80 on Thursday. The company has a market capitalization of $821.24 million, a price-to-earnings ratio of -4.28 and a beta of 0.74. Ivanhoe Electric Inc. has a one year low of $4.50 and a one year high of $12.98. The company’s fifty day moving average price is $6.09 and its 200-day moving average price is $7.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IE. Raymond James set a $15.00 price target on Ivanhoe Electric and gave the company an “outperform” rating in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price objective on Ivanhoe Electric from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.88.

Insider Buying and Selling

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

Ivanhoe Electric 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.