Ivanhoe Electric (TSE:IE) Stock Crosses Below 200-Day Moving Average – Here’s Why

Ivanhoe Electric Inc. (TSE:IE)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$18.66 and traded as low as C$12.49. Ivanhoe Electric shares last traded at C$12.77, with a volume of 19,045 shares trading hands.

Analyst Upgrades and Downgrades

Separately, National Bank Financial lowered their price target on Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating for the company in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$24.75.

Ivanhoe Electric Trading Up 0.1%

The firm has a market capitalization of C$2.02 billion, a PE ratio of -44.03 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 has a fifty day moving average of C$15.02 and a 200 day moving average of C$18.66.

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

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.