National Bankshares Increases Ivanhoe Electric (TSE:IE) Price Target to C$33.00

Ivanhoe Electric (TSE:IE) had its target price increased by analysts at National Bankshares from C$26.50 to C$33.00 in a research note issued to investors on Thursday,BayStreet.CA reports. National Bankshares’ target price would indicate a potential upside of 41.51% from the company’s previous close.

Several other research firms have also weighed in on IE. Raymond James Financial raised Ivanhoe Electric to a “moderate buy” rating in a research note on Thursday, October 9th. Scotiabank boosted their target price on shares of 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. Finally, Jefferies Financial Group upgraded Ivanhoe Electric to a “strong-buy” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$27.75.

Ivanhoe Electric Trading Down 13.9%

IE stock opened at C$23.32 on Thursday. The company has a market cap of C$3.37 billion, a price-to-earnings ratio of -56.88 and a beta of 1.77. The company has a quick ratio of 8.83, a current ratio of 2.50 and a debt-to-equity ratio of 34.05. The business has a fifty day simple moving average of C$22.28 and a 200-day simple moving average of C$18.14. Ivanhoe Electric has a 52 week low of C$6.45 and a 52 week high of C$28.81.

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