Ivanhoe Electric (TSE:IE) Hits New 1-Year High – Here’s What Happened

Ivanhoe Electric Inc. (TSE:IE) shares reached a new 52-week high on Monday . The stock traded as high as C$25.23 and last traded at C$25.17, with a volume of 21337 shares traded. The stock had previously closed at C$23.72.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IE shares. Scotiabank upped their price target on 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. Jefferies Financial Group raised shares of Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. National Bankshares upped their price objective on shares of Ivanhoe Electric from C$24.50 to C$26.50 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Finally, Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, Ivanhoe Electric currently has a consensus rating of “Buy” and an average target price of C$24.50.

Ivanhoe Electric Trading Up 4.1%

The stock’s 50 day moving average is C$20.14 and its 200-day moving average is C$17.00. The company has a market cap of C$3.57 billion, a P/E ratio of -60.24 and a beta of 1.77. The company has a current ratio of 2.50, a quick ratio of 8.83 and a debt-to-equity ratio of 34.05.

Ivanhoe Electric (TSE:IE) last issued its 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 during the quarter. Ivanhoe Electric had a negative net margin of 5,947.22% and a negative return on equity of 61.91%.

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.