Ivanhoe Electric (TSE:IE) Hits New 52-Week Low – Here’s Why

Ivanhoe Electric Inc. (TSE:IE)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as C$11.68 and last traded at C$11.71, with a volume of 3826 shares. The stock had previously closed at C$12.04.

Wall Street Analyst Weigh In

Separately, National Bank Financial reduced their price target on Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$24.75.

Ivanhoe Electric Stock Performance

The company has a market cap of C$1.83 billion, a price-to-earnings ratio of -39.79 and a beta of 2.54. The company has a debt-to-equity ratio of 6.55, a quick ratio of 8.83 and a current ratio of 6.25. The firm’s 50 day simple moving average is C$15.62 and its 200-day simple moving average is C$18.96.

Ivanhoe Electric (TSE:IE) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.36) EPS for the quarter. Ivanhoe Electric had a negative net margin of 1,002.45% and a negative return on equity of 8.83%. The company had revenue of C$1.19 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.