Ivanhoe Electric (TSE:IE) Hits New 12-Month Low – Here’s What Happened

Ivanhoe Electric Inc. (TSE:IE)’s stock price reached a new 52-week low during mid-day trading on Friday. The stock 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.

Wall Street Analysts Forecast Growth

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

Ivanhoe Electric Stock Performance

The stock has a market capitalization of C$1.52 billion, a price-to-earnings ratio of -28.94 and a beta of 2.32. The company’s fifty day simple moving average is C$12.86 and its 200 day simple moving average is C$16.19. The company has a quick ratio of 8.83, a current ratio of 4.37 and a debt-to-equity ratio of 7.94.

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.