Ivanhoe Electric (TSE:IE) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ivanhoe Electric shares crossed above their 200-day moving average (C$20.56), trading as high as C$21.09 and last at C$20.86 on a volume of 30,395 shares.
• Analysts remain broadly bullish — National Bank Financial trimmed its target from C$33 to C$30 but kept an "outperform," and the consensus rating is Buy with a consensus target of C$26.25.
• The company remains unprofitable, reporting a quarterly loss of C($1.85) per share on C$1.18M revenue, an extreme negative net margin (−3,263.69%), and a high debt-to-equity ratio (8.89).

Ivanhoe Electric Inc. (TSE:IE - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$20.56 and traded as high as C$21.09. Ivanhoe Electric shares last traded at C$20.86, with a volume of 30,395 shares trading hands.

Analysts Set New Price Targets

Separately, National Bank Financial dropped their price objective on Ivanhoe Electric from C$33.00 to C$30.00 and set an "outperform" rating for the company in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Ivanhoe Electric has a consensus rating of "Buy" and a consensus target price of C$26.25.

Ivanhoe Electric Stock Performance

The stock's 50-day moving average is C$18.92 and its 200-day moving average is C$20.56. The stock has a market cap of C$3.28 billion, a price-to-earnings ratio of -26.41 and a beta of 2.08. The company has a current ratio of 3.34, a quick ratio of 8.83 and a debt-to-equity ratio of 8.89.

Ivanhoe Electric (TSE:IE - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported C($1.85) earnings per share for the quarter. The business had revenue of C$1.18 million for the quarter. Ivanhoe Electric had a negative net margin of 3,263.69% and a negative return on equity of 32.66%.

About Ivanhoe Electric

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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