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

Ivanhoe Electric Inc. (TSE:IE) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$19.78 and traded as low as C$12.73. Ivanhoe Electric shares last traded at C$13.19, with a volume of 34,306 shares.

Analyst Upgrades and Downgrades

Separately, National Bank Financial reduced their target price on shares of Ivanhoe Electric from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 15th. 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, the company currently has an average rating of “Buy” and an average price target of C$26.25.

Ivanhoe Electric Price Performance

The stock has a market capitalization of C$2.18 billion, a P/E ratio of -47.55 and a beta of 2.43. The company has a current ratio of 6.25, a quick ratio of 8.83 and a debt-to-equity ratio of 6.55. The company has a fifty day simple moving average of C$17.03 and a two-hundred day simple moving average of C$19.67.

Ivanhoe Electric (TSE:IE) last issued 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 business had revenue of C$1.19 million during 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.