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

Ivanhoe Electric Inc. (TSE:IE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$25.23 and last traded at C$25.17, with a volume of 21337 shares changing hands. The stock had previously closed at C$23.72.

Analyst Ratings Changes

IE has been the subject of a number of analyst reports. Scotiabank increased 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 upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. National Bankshares raised their price target on shares of Ivanhoe Electric from C$24.50 to C$26.50 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Finally, Raymond James Financial upgraded shares of Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. One 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, Ivanhoe Electric has an average rating of “Buy” and a consensus target price of C$24.50.

Ivanhoe Electric Price Performance

The company has a current ratio of 2.50, a quick ratio of 8.83 and a debt-to-equity ratio of 34.05. The business’s fifty 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.

Ivanhoe Electric (TSE:IE) last released 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 return on equity of 61.91% and a negative net margin of 5,947.22%.

About Ivanhoe Electric

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.