Ivanhoe Electric (TSE:IE) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Ivanhoe Electric Inc. (TSE:IE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.07 and traded as high as C$21.33. Ivanhoe Electric shares last traded at C$20.20, with a volume of 15,920 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on IE shares. Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. Scotiabank increased their price objective on Ivanhoe Electric from C$18.00 to C$22.50 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. National Bankshares set a C$18.00 price objective on Ivanhoe Electric and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Jefferies Financial Group raised Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$20.25.

Ivanhoe Electric Price Performance

The firm has a market capitalization of C$2.89 billion, a P/E ratio of -31.56 and a beta of 1.47. The company has a debt-to-equity ratio of 34.05, a quick ratio of 8.83 and a current ratio of 2.50. The business has a 50 day simple moving average of C$16.04 and a two-hundred day simple moving average of C$13.07.

About Ivanhoe Electric

Ivanhoe Electric Inc is a mineral project exploration and development company with a focus on identifying and developing mineral projects, and ultimately mines, associated with the metals necessary for electrification, in particular, copper, gold, silver, nickel, cobalt, vanadium, and the platinum group metals.