Ivanhoe Electric (TSE:IE) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Ivanhoe Electric Inc. (TSE:IE)’s share price crossed 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.

Analyst Ratings Changes

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

Ivanhoe Electric Stock Up 0.1%

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 firm has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -44.03 and a beta of 2.54. The firm has a 50 day moving average price of C$15.02 and a two-hundred day moving average price of C$18.66.

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. The business had revenue of C$1.19 million for the quarter. Ivanhoe Electric had a negative return on equity of 8.83% and a negative net margin of 1,002.45%.

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.