Ivanhoe Electric (TSE:IE) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Ivanhoe Electric's share price recently surged above its 200-day moving average, with the stock last priced at C$12.45 on a trading volume of 12,701 shares.
• National Bankshares has set a target price of C$18.00 for Ivanhoe Electric, reflecting a consensus rating of "Buy" among analysts.
• The company's market capitalization stands at C$1.65 billion, alongside a P/E ratio of -19.45, indicating notable volatility in its stock performance.

Shares of Ivanhoe Electric Inc. (TSE:IE - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.80 and traded as high as C$12.45. Ivanhoe Electric shares last traded at C$12.45, with a volume of 12,701 shares traded.

Wall Street Analyst Weigh In

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

Ivanhoe Electric Price Performance

The company has a fifty day moving average of C$13.48 and a 200 day moving average of C$10.89. The company has a debt-to-equity ratio of 34.05, a current ratio of 2.50 and a quick ratio of 8.83. The firm has a market capitalization of C$1.61 billion, a P/E ratio of -18.95 and a beta of 1.26.

Ivanhoe Electric Company Profile

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.