Ivanhoe Electric (TSE:IE) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Ivanhoe Electric Inc. (TSE:IE) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$15.53 and traded as low as C$11.21. Ivanhoe Electric shares last traded at C$11.24, with a volume of 84,331 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IE shares. National Bank Financial dropped their target price on shares of Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 14th. Raymond James Financial decreased their price objective on Ivanhoe Electric from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday, September 24th. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$23.50.

Ivanhoe Electric Trading Down 0.3%

The company has a market cap of C$1.95 billion, a price-to-earnings ratio of -47.00 and a beta of 2.45. The company has a debt-to-equity ratio of 6.97, a current ratio of 5.05 and a quick ratio of 8.83. The business’s fifty day moving average price is C$14.44 and its 200 day moving average price is C$15.51.

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.