Ivanhoe Electric (TSE:IE) Sets New 52-Week Low – What’s Next?

Ivanhoe Electric Inc. (TSE:IE)’s stock price reached a new 52-week low during trading on Friday. The company traded as low as C$9.36 and last traded at C$9.37, with a volume of 13,912 shares trading hands. The stock had previously closed at C$9.79.

Analyst Ratings Changes

Separately, Raymond James Financial lowered their target price on shares of Ivanhoe Electric from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$23.50.

Ivanhoe Electric Price Performance

The firm has a market cap of C$1.50 billion, a PE ratio of -28.52 and a beta of 2.32. The company has a quick ratio of 8.83, a current ratio of 4.37 and a debt-to-equity ratio of 7.94. The stock has a 50 day moving average price of C$12.78 and a two-hundred day moving average price of C$16.10.

Ivanhoe Electric Company Profile

We are a United States-based, technology-driven minerals exploration and development company with a focus on copper and other critical metals vital to electric transmission and generation, manufacturing, infrastructure development, technology, and national security. Our wholly owned assets are located in the United States, led by our advanced-stage Santa Cruz Copper Project on private land in Arizona. We operate exploration joint ventures and alliances in Saudi Arabia with Maaden, in Chile with Sociedad Química y Minera de Chile (‘SQM’), and in the United States with BHP.