Ivanhoe Electric (TSE:IE) Sets New 52-Week High – Still a Buy?

Shares of Ivanhoe Electric Inc. (TSE:IE) hit a new 52-week high during trading on Thursday . The company traded as high as C$28.81 and last traded at C$25.70, with a volume of 35895 shares traded. The stock had previously closed at C$26.30.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Ivanhoe Electric from C$18.00 to C$22.50 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised Ivanhoe Electric to a “strong-buy” rating in a research report on Monday, October 6th. Finally, National Bankshares boosted their price target on Ivanhoe Electric from C$24.50 to C$26.50 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$24.50.

Ivanhoe Electric Price Performance

The business has a fifty day moving average of C$21.94 and a two-hundred day moving average of C$18.01. The company has a debt-to-equity ratio of 34.05, a quick ratio of 8.83 and a current ratio of 2.50. The firm has a market capitalization of C$3.80 billion, a price-to-earnings ratio of -64.05 and a beta of 1.77.

Ivanhoe Electric (TSE:IE) last announced its quarterly 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 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.