Ivanhoe Electric (TSE:IE) Price Target Cut to C$20.00 by Analysts at Raymond James Financial

Ivanhoe Electric (TSE:IE) had its target price reduced by investment analysts at Raymond James Financial from C$21.00 to C$20.00 in a research note issued on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price objective points to a potential upside of 40.35% from the stock’s current price.

Separately, National Bank Financial decreased their price objective on shares of Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$23.17.

Ivanhoe Electric Trading Down 3.0%

TSE:IE traded down C$0.44 on Thursday, reaching C$14.25. 14,269 shares of the stock traded hands, compared to its average volume of 30,597. The company has a current ratio of 5.05, a quick ratio of 8.83 and a debt-to-equity ratio of 6.97. Ivanhoe Electric has a 1-year low of C$11.04 and a 1-year high of C$28.81. The company’s 50 day moving average is C$14.07 and its 200-day moving average is C$15.80. The firm has a market capitalization of C$2.27 billion, a price-to-earnings ratio of -54.81 and a beta of 2.67.

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.