Ivanhoe Electric (TSE:IE) Sets New 1-Year Low – Here’s Why

Ivanhoe Electric Inc. (TSE:IE)’s stock price reached a new 52-week low during mid-day trading on Friday. The company traded as low as C$9.36 and last traded at C$9.37, with a volume of 13,912 shares changing hands. The stock had previously closed at C$9.79.

Analyst Upgrades and Downgrades

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

Ivanhoe Electric Price Performance

The stock has a market capitalization of C$1.52 billion, a P/E ratio of -28.94 and a beta of 2.32. The company has a debt-to-equity ratio of 7.94, a current ratio of 4.37 and a quick ratio of 8.83. The company’s 50-day simple moving average is C$12.86 and its 200-day simple moving average is C$16.19.

About Ivanhoe Electric

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.