Ivanhoe Electric (TSE:IE) Share Price Passes Above 200 Day Moving Average – Here’s Why

Ivanhoe Electric Inc. (TSE:IE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$18.72 and traded as high as C$22.77. Ivanhoe Electric shares last traded at C$21.64, with a volume of 18,903 shares.

Wall Street Analyst Weigh In

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

Ivanhoe Electric Stock Down 0.2%

The company has a 50-day moving average of C$23.26 and a 200-day moving average of C$18.75. 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 company has a market capitalization of C$3.13 billion, a price-to-earnings ratio of -52.78 and a beta of 1.82.

Ivanhoe Electric (TSE:IE) last issued 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 return on equity of 61.91% and a negative net margin of 5,947.22%.The business had revenue of C$0.76 million during the quarter.

Ivanhoe Electric Company Profile

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.