Ivanhoe Electric (TSE:IE) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Ivanhoe Electric Inc. (TSE:IE)’s share 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 changing hands.

Wall Street Analyst Weigh In

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

Ivanhoe Electric Stock Down 1.9%

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 stock has a market capitalization of C$1.98 billion, a PE ratio of -43.21 and a beta of 2.54. The business has a 50 day moving average of C$14.92 and a two-hundred day moving average of C$18.62.

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

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.