Ivanhoe Electric (TSE:IE) Stock Crosses Above 200 Day Moving Average – What’s Next?

Ivanhoe Electric Inc. (TSE:IE)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.52 and traded as high as C$18.44. Ivanhoe Electric shares last traded at C$18.32, with a volume of 11,366 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IE. Raymond James Financial raised shares of Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. Scotiabank raised their price objective on shares of Ivanhoe Electric from C$18.00 to C$22.50 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. National Bankshares set a C$18.00 price objective on shares of Ivanhoe Electric and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Jefferies Financial Group raised shares of Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. 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, the stock has a consensus rating of “Buy” and a consensus price target of C$20.25.

Ivanhoe Electric Stock Up 3.6%

The firm has a market cap of C$2.65 billion, a price-to-earnings ratio of -28.63 and a beta of 1.29. 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 business’s 50-day moving average is C$16.81 and its 200-day moving average is C$13.52.

About Ivanhoe Electric

Ivanhoe Electric Inc is a mineral project exploration and development company with a focus on identifying and developing mineral projects, and ultimately mines, associated with the metals necessary for electrification, in particular, copper, gold, silver, nickel, cobalt, vanadium, and the platinum group metals.