Ivanhoe Electric (TSE:IE) Sets New 12-Month High After Analyst Upgrade

Key Points

• Ivanhoe Electric's stock reached a new 52-week high of C$23.58 following an upgrade from Scotiabank, which raised the price target from C$18.00 to C$22.50.
• Multiple analysts have given positive ratings on Ivanhoe Electric, with Jefferies Financial Group assigning a "strong-buy" rating and Raymond James Financial upgrading to "moderate buy."
• The company's market capitalization stands at C$3.10 billion, with a 16.4% increase in stock price recently, reflecting strong investor interest.

Ivanhoe Electric Inc. (TSE:IE - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from C$18.00 to C$22.50. Scotiabank currently has an outperform rating on the stock. Ivanhoe Electric traded as high as C$23.58 and last traded at C$23.54, with a volume of 23026 shares traded. The stock had previously closed at C$20.08.

IE has been the subject of several other research reports. Jefferies Financial Group raised shares of Ivanhoe Electric to a "strong-buy" rating in a research note on Monday, October 6th. Raymond James Financial upgraded shares of Ivanhoe Electric to a "moderate buy" rating in a research note on Thursday, October 9th. Finally, National Bankshares set a C$18.00 price target on shares of Ivanhoe Electric and gave the stock an "outperform" rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$20.25.

Ivanhoe Electric Stock Up 16.4%

The business's fifty day moving average price is C$14.14 and its 200 day moving average price is C$11.94. The firm has a market capitalization of C$3.10 billion, a price-to-earnings ratio of -36.52 and a beta of 1.47. The company has a current ratio of 2.50, a quick ratio of 8.83 and a debt-to-equity ratio of 34.05.

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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