Ivanhoe Electric (TSE:IE) Reaches New 12-Month High Following Analyst Upgrade

Ivanhoe Electric Inc. (TSE:IE) reached a new 52-week high on Thursday after National Bankshares raised their price target on the stock from C$26.50 to C$33.00. The stock traded as high as C$28.81 and last traded at C$25.70, with a volume of 35895 shares. The stock had previously closed at C$26.30.

A number of other brokerages have also recently issued reports on IE. Jefferies Financial Group raised shares of Ivanhoe Electric to a “strong-buy” rating in a research note on Monday, October 6th. Scotiabank boosted their price objective on 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. Finally, Raymond James Financial upgraded Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$27.75.

Ivanhoe Electric Trading Down 13.9%

The company has a market cap of C$3.37 billion, a price-to-earnings ratio of -56.88 and a beta of 1.77. The company has a current ratio of 2.50, a quick ratio of 8.83 and a debt-to-equity ratio of 34.05. The business’s 50 day moving average price is C$22.28 and its 200-day moving average price is C$18.14.

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

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.