Ivanhoe Electric (TSE:IE) Shares Cross Below 200-Day Moving Average – Should You Sell?

by · The Markets Daily

Ivanhoe Electric Inc. (TSE:IE – Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.07 and traded as low as C$12.20. Ivanhoe Electric shares last traded at C$12.47, with a volume of 49,646 shares changing hands.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on IE

Ivanhoe Electric Price Performance

The company has a market cap of C$2.12 billion, a PE ratio of -51.00 and a beta of 2.67. The stock has a fifty day moving average price of C$13.94 and a 200-day moving average price of C$15.99. The company has a debt-to-equity ratio of 6.97, a current ratio of 5.05 and a quick ratio of 8.83.

Ivanhoe Electric Company Profile

(Get Free Report)

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.

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