National Bankshares Forecasts Strong Price Appreciation for Ivanhoe Electric (TSE:IE) Stock

Ivanhoe Electric (TSE:IE) had its price target lifted by National Bankshares from C$24.50 to C$26.50 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 29.02% from the company’s current price.

IE has been the topic of a number of other research reports. Jefferies Financial Group raised Ivanhoe Electric to a “strong-buy” rating in a research note on Monday, October 6th. Raymond James Financial raised shares of Ivanhoe Electric to a “moderate buy” rating in a research report on Thursday, October 9th. Finally, Scotiabank boosted their target price on shares of Ivanhoe Electric from C$18.00 to C$22.50 and gave the company an “outperform” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$24.50.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock opened at C$20.54 on Thursday. The stock has a market capitalization of C$2.97 billion, a P/E ratio of -50.10 and a beta of 1.37. Ivanhoe Electric has a 12-month low of C$6.45 and a 12-month high of C$25.08. 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 firm’s 50-day moving average is C$19.57 and its two-hundred day moving average is C$15.30.

Ivanhoe Electric (TSE:IE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.13 earnings per share (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 business had revenue of C$0.76 million for the quarter.

About Ivanhoe Electric

Ivanhoe Electric Inc is a mineral project exploration and development company with a focus on identifying and developing mineral projects, and ultimately mines, associated with the metals necessary for electrification, in particular, copper, gold, silver, nickel, cobalt, vanadium, and the platinum group metals.