Ivanhoe Electric (TSE:IE) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Ivanhoe Electric Inc. (TSE:IE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.42 and traded as high as C$25.18. Ivanhoe Electric shares last traded at C$22.52, with a volume of 43,545 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on IE. National Bankshares increased their target price on shares of Ivanhoe Electric from C$26.50 to C$33.00 in a research report on Thursday, January 29th. Scotiabank upped their price objective on shares of 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. Based on data from MarketBeat.com, Ivanhoe Electric currently has an average rating of “Buy” and a consensus price target of C$27.75.

Ivanhoe Electric Stock Up 4.8%

The stock has a market cap of C$3.42 billion, a price-to-earnings ratio of -57.56 and a beta of 1.82. 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’s 50-day simple moving average is C$22.92 and its two-hundred day simple moving average is C$18.47.

Ivanhoe Electric (TSE:IE) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$0.76 million for the quarter. Ivanhoe Electric had a negative return on equity of 61.91% and a negative net margin of 5,947.22%.

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.