Ivanhoe Electric (TSE:IE) Hits New 1-Year Low – Time to Sell?

Ivanhoe Electric Inc. (TSE:IE) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as C$9.89 and last traded at C$9.99, with a volume of 28,584 shares changing hands. The stock had previously closed at C$10.78.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IE. National Bank Financial lowered their price target on Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating on the stock in a report on Tuesday, July 14th. Raymond James Financial reduced their price objective on Ivanhoe Electric from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$23.50.

Ivanhoe Electric Stock Performance

The company has a debt-to-equity ratio of 6.97, a current ratio of 5.05 and a quick ratio of 8.83. The firm has a fifty day simple moving average of C$13.18 and a 200 day simple moving average of C$16.49. The company has a market cap of C$1.72 billion, a price-to-earnings ratio of -41.54 and a beta of 2.32.

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.