Ivanhoe Electric (TSE:IE) Sets New 1-Year Low – Here’s What Happened

Ivanhoe Electric Inc. (TSE:IE – Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as C$11.03 and last traded at C$11.05, with a volume of 22,245 shares trading hands. The stock had previously closed at C$11.90.

Analysts Set New Price Targets

Several research firms have recently commented on IE. Raymond James Financial reduced their price target on shares of Ivanhoe Electric from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. National Bank Financial cut their price target on Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating for the company in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$23.50.

View Our Latest Stock Report on IE

Ivanhoe Electric Stock Down 7.9%

The stock has a market cap of C$1.75 billion, a P/E ratio of -42.15 and a beta of 2.45. The company’s fifty day moving average price is C$14.18 and its 200-day moving average price is C$15.38. The company has a debt-to-equity ratio of 6.97, a quick ratio of 8.83 and a current ratio of 5.05.

Ivanhoe Electric Company Profile

(Get Free Report)

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.

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