Ivanhoe Electric (TSE:IE) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of Ivanhoe Electric Inc. (TSE:IE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$19.51 and traded as high as C$22.18. Ivanhoe Electric shares last traded at C$21.59, with a volume of 25,350 shares traded.

Analyst Ratings Changes

Separately, National Bank Financial boosted their price target on shares of Ivanhoe Electric from C$26.50 to C$33.00 in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Ivanhoe Electric has a consensus rating of “Buy” and an average price target of C$27.75.

Ivanhoe Electric Price Performance

The company has a quick ratio of 8.83, a current ratio of 3.34 and a debt-to-equity ratio of 8.89. The firm’s fifty day moving average price is C$23.53 and its 200-day moving average price is C$19.51. The stock has a market cap of C$3.40 billion, a P/E ratio of -27.33 and a beta of 1.82.

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.