Ivanhoe Electric (TSE:IE) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Ivanhoe Electric Inc. (TSE:IE)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial decreased their target price on shares of Ivanhoe Electric from C$33.00 to C$30.00 and set an “outperform” rating for the company in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$26.25.

Ivanhoe Electric Stock Up 1.7%

The company has a market capitalization of C$2.09 billion, a PE ratio of -45.48 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 firm has a 50 day simple moving average of C$17.32 and a two-hundred day simple moving average of C$19.78.

Ivanhoe Electric (TSE:IE) last released its quarterly earnings results on Thursday, May 7th. The company reported C($0.36) EPS for the quarter. Ivanhoe Electric had a negative return on equity of 8.83% and a negative net margin of 1,002.45%.The company had revenue of C$1.19 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.