Ivanhoe Electric (TSE:IE) Sets New 52-Week High – Here’s Why

Ivanhoe Electric Inc. (TSE:IE)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$26.60 and last traded at C$26.20, with a volume of 22390 shares. The stock had previously closed at C$24.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IE shares. Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating in a report on Thursday, October 9th. National Bankshares raised their price target on Ivanhoe Electric from C$24.50 to C$26.50 and gave the company an “outperform” rating in a report on Thursday, December 11th. Jefferies Financial Group raised Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. Finally, Scotiabank increased their price objective on Ivanhoe Electric from C$18.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$24.50.

Ivanhoe Electric Trading Up 6.2%

The firm has a market cap of C$3.78 billion, a PE ratio of -63.68 and a beta of 1.77. The company has a debt-to-equity ratio of 34.05, a current ratio of 2.50 and a quick ratio of 8.83. The business has a 50-day moving average price of C$21.06 and a two-hundred day moving average price of C$17.56.

Ivanhoe Electric (TSE:IE) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.13 EPS for the quarter. Ivanhoe Electric had a negative net margin of 5,947.22% and a negative return on equity of 61.91%. The firm had revenue of C$0.76 million for the quarter.

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.