Ivanhoe Electric (TSE:IE) Given New C$22.50 Price Target at Scotiabank

Ivanhoe Electric (TSE:IE) had its price target increased by Scotiabank from C$18.00 to C$22.50 in a research note published on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. National Bankshares set a C$18.00 price objective on Ivanhoe Electric and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Raymond James Financial upgraded Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group upgraded 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 given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$20.25.

Ivanhoe Electric Stock Up 15.3%

Shares of TSE:IE opened at C$23.15 on Tuesday. Ivanhoe Electric has a 52-week low of C$6.45 and a 52-week high of C$23.62. The stock has a market cap of C$3.07 billion, a P/E ratio of -36.17 and a beta of 1.47. The business’s 50 day moving average is C$14.33 and its 200 day moving average is C$12.02. 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 Company Profile

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.