Ivanhoe Electric (TSE:IE) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Ivanhoe Electric Inc. (TSE:IE) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.22 and traded as high as C$16.90. Ivanhoe Electric shares last traded at C$16.45, with a volume of 22,137 shares.

Analyst Upgrades and Downgrades

IE has been the subject of a number of research analyst reports. Scotiabank raised their price target 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. Raymond James Financial raised shares of Ivanhoe Electric to a “moderate buy” rating in a research note on Thursday, October 9th. National Bankshares set a C$18.00 target price on shares of Ivanhoe Electric and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Jefferies Financial Group upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, Ivanhoe Electric presently has a consensus rating of “Buy” and a consensus target price of C$20.25.

Ivanhoe Electric Stock Down 3.3%

The company has a debt-to-equity ratio of 34.05, a current ratio of 2.50 and a quick ratio of 8.83. The stock has a market cap of C$2.38 billion, a price-to-earnings ratio of -40.12 and a beta of 1.29. The firm’s 50-day moving average is C$18.11 and its 200 day moving average is C$14.22.

Ivanhoe Electric (TSE:IE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.13 earnings per share (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

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.