Ivanhoe Electric (TSE:IE) Shares Cross Below 200-Day Moving Average – What’s Next?

Ivanhoe Electric Inc. (TSE:IE)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.27 and traded as low as C$16.63. Ivanhoe Electric shares last traded at C$17.17, with a volume of 11,292 shares changing hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial boosted their price objective on Ivanhoe Electric from C$26.50 to C$33.00 in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Ivanhoe Electric presently has an average rating of “Buy” and an average price target of C$27.75.

Ivanhoe Electric Stock Up 10.1%

The stock has a 50 day moving average of C$19.88 and a 200-day moving average of C$20.28. The firm has a market capitalization of C$2.86 billion, a P/E ratio of -22.99 and a beta of 2.08. The company has a debt-to-equity ratio of 8.89, a quick ratio of 8.83 and a current ratio of 3.34.

Ivanhoe Electric (TSE:IE) last announced its quarterly earnings data on Monday, February 23rd. The company reported C($1.85) earnings per share (EPS) for the quarter. Ivanhoe Electric had a negative net margin of 3,263.69% and a negative return on equity of 32.66%. The firm had revenue of C$1.18 million during the quarter.

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.