National Bank Financial Has Lowered Expectations for Ivanhoe Electric (TSE:IE) Stock Price

Key Points

• National Bank Financial cut its price target for Ivanhoe Electric to C$30 from C$33 but kept an "outperform" rating, with the new target implying about a 49.85% upside from the stock's previous close.
• Ivanhoe Electric reported a deep quarterly loss (C($1.85) EPS) and extreme negative profitability (negative ROE and net margin), while the stock traded around C$20.02 with a market cap of C$3.15 billion and a 52-week range of C$8.02–C$28.81.

Ivanhoe Electric (TSE:IE - Get Free Report) had its price objective cut by National Bank Financial from C$33.00 to C$30.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 49.85% from the stock's previous close.

Ivanhoe Electric Price Performance

Ivanhoe Electric stock traded down C$0.20 during mid-day trading on Wednesday, hitting C$20.02. 6,452 shares of the company were exchanged, compared to its average volume of 27,106. Ivanhoe Electric has a 1-year low of C$8.02 and a 1-year high of C$28.81. The company has a quick ratio of 8.83, a current ratio of 3.34 and a debt-to-equity ratio of 8.89. The business has a fifty day moving average of C$19.34 and a 200 day moving average of C$20.43. The company has a market capitalization of C$3.15 billion, a PE ratio of -25.34 and a beta of 2.08.

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

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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