Ivanhoe Electric (TSE:IE) Sets New 52-Week Low – Time to Sell?

Ivanhoe Electric Inc. (TSE:IE) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$11.68 and last traded at C$11.71, with a volume of 3826 shares. The stock had previously closed at C$12.04.

Wall Street Analyst Weigh In

Separately, National Bank Financial cut their target price on shares of Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$24.75.

Ivanhoe Electric Price Performance

The firm has a 50 day moving average price of C$15.92 and a 200 day moving average price of C$19.09. The stock has a market capitalization of C$1.81 billion, a PE ratio of -39.48 and a beta of 2.54. The company has a current ratio of 6.25, a quick ratio of 8.83 and a debt-to-equity ratio of 6.55.

Ivanhoe Electric (TSE:IE) last released its earnings results on Thursday, May 7th. The company reported C($0.36) earnings per share for the quarter. The company had revenue of C$1.19 million for the quarter. Ivanhoe Electric had a negative net margin of 1,002.45% and a negative return on equity of 8.83%.

Ivanhoe Electric Company Profile

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.