Ivanhoe Electric (TSE:IE) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Ivanhoe Electric's stock price surpassed its 200-day moving average of C$10.68, reaching a high of C$12.36 during trading.
• The company is valued at C$1.63 billion and has a negative price-to-earnings ratio of -19.23, indicating potential financial challenges.
• Ivanhoe Electric focuses on the exploration and development of mineral projects related to essential metals for electrification, including copper, gold, and nickel.

Shares of Ivanhoe Electric Inc. (TSE:IE - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.68 and traded as high as C$12.36. Ivanhoe Electric shares last traded at C$12.31, with a volume of 7,550 shares trading hands.

Analyst Upgrades and Downgrades

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

Ivanhoe Electric Price 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 fifty day simple moving average of C$13.54 and a 200-day simple moving average of C$10.69. The stock has a market cap of C$1.63 billion, a price-to-earnings ratio of -19.14 and a beta of 1.30.

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.