Ivanhoe Electric (TSE:IE) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Ivanhoe Electric Inc. (TSE:IE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.42 and traded as high as C$25.18. Ivanhoe Electric shares last traded at C$22.52, with a volume of 43,545 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on IE shares. Scotiabank lifted their price target on shares of Ivanhoe Electric from C$18.00 to C$22.50 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. National Bankshares boosted their price objective on shares of Ivanhoe Electric from C$26.50 to C$33.00 in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$27.75.

Ivanhoe Electric Stock Up 4.8%

The business’s fifty day moving average is C$22.92 and its two-hundred day moving average is C$18.47. The stock has a market cap of C$3.42 billion, a price-to-earnings ratio of -57.56 and a beta of 1.82. The company has a quick ratio of 8.83, a current ratio of 2.50 and a debt-to-equity ratio of 34.05.

Ivanhoe Electric (TSE:IE) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.13 EPS for the quarter. The company had revenue of C$0.76 million during the quarter. Ivanhoe Electric had a negative net margin of 5,947.22% and a negative return on equity of 61.91%.

About Ivanhoe Electric

We are a United States domiciled minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. We seek to support American supply chain independence by finding and delivering copper and other critical metals vital to advanced manufacturing, infrastructure development, technology, and national security. We use our powerful Typhoon¿ geophysical surveying system, together with advanced data analytics provided by our 94.3% owned subsidiary, Computational Geosciences Inc (“CGI”), to accelerate and de-risk the mineral exploration process as we seek to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies.