Ivanhoe Electric (TSE:IE) Hits New 1-Year Low – What’s Next?

Ivanhoe Electric Inc. (TSE:IE) shares reached a new 52-week low during mid-day trading on Thursday. The stock 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.

Analyst Upgrades and Downgrades

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

Ivanhoe Electric Stock Performance

The company has a market capitalization of C$1.69 billion, a price-to-earnings ratio of -40.77 and a beta of 2.45. The firm has a fifty day simple moving average of C$14.03 and a 200 day simple moving average of C$15.31. The company has a debt-to-equity ratio of 6.97, a current ratio of 5.05 and a quick ratio of 8.83.

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.