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

Ivanhoe Electric Inc. (TSE:IE)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$26.60 and last traded at C$26.20, with a volume of 22390 shares. The stock had previously closed at C$24.59.

Analysts Set New Price Targets

A number of research analysts have issued reports on IE shares. Raymond James Financial raised shares of Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. National Bankshares increased their price objective on Ivanhoe Electric from C$24.50 to C$26.50 and gave the company an “outperform” rating in a report on Thursday, December 11th. Jefferies Financial Group raised Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. Finally, Scotiabank upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$24.50.

Ivanhoe Electric Trading Up 6.2%

The company has a 50 day simple moving average of C$21.06 and a 200 day simple moving average of C$17.56. 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 stock has a market capitalization of C$3.78 billion, a PE ratio of -63.68 and a beta of 1.77.

Ivanhoe Electric (TSE:IE) last released its earnings results on Wednesday, November 5th. The company reported C$0.13 earnings per share (EPS) 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 for 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.