Ivanhoe Electric (TSE:IE) Hits New 1-Year High - Here's Why

Key Points

• Ivanhoe Electric Inc. reached a new 52-week high with its stock trading at C$17.87 on Monday, reflecting high trading volume.
• Analysts from National Bankshares have set a price target of C$18.00 for the company, affirming an "outperform" rating.
• The company specializes in mineral project exploration, focusing on metals essential for electrification, including copper, gold, and nickel.

Ivanhoe Electric Inc. (TSE:IE - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$17.87 and last traded at C$17.37, with a volume of 1856 shares. The stock had previously closed at C$17.37.

Wall Street Analysts Forecast Growth

Separately, National Bankshares set a C$18.00 price target on Ivanhoe Electric and gave the company an "outperform" rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$18.00.

Ivanhoe Electric Stock Performance

The company has a current ratio of 2.50, a quick ratio of 8.83 and a debt-to-equity ratio of 34.05. The stock has a market capitalization of C$2.26 billion, a PE ratio of -26.56 and a beta of 1.47. The firm's 50-day simple moving average is C$13.50 and its two-hundred day simple moving average is C$11.55.

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.

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