National Bankshares Forecasts Strong Price Appreciation for Ivanhoe Electric (TSE:IE) Stock

Ivanhoe Electric (TSE:IE) had its price objective increased by equities research analysts at National Bankshares from C$26.50 to C$33.00 in a research note issued to investors on Thursday,BayStreet.CA reports. National Bankshares’ price target would indicate a potential upside of 22.27% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Scotiabank upped their target price on shares of Ivanhoe Electric from C$18.00 to C$22.50 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Jefferies Financial Group upgraded shares of Ivanhoe Electric to a “strong-buy” rating in a report on Monday, October 6th. Finally, Raymond James Financial upgraded Ivanhoe Electric to a “moderate buy” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, Ivanhoe Electric presently has a consensus rating of “Buy” and an average target price of C$27.75.

Ivanhoe Electric Stock Up 2.6%

Shares of IE traded up C$0.69 during midday trading on Thursday, reaching C$26.99. 48,383 shares of the company were exchanged, compared to its average volume of 23,712. Ivanhoe Electric has a 1-year low of C$6.45 and a 1-year high of C$28.81. The stock has a 50-day moving average price of C$21.94 and a 200-day moving average price of C$18.01. 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 company has a market cap of C$3.91 billion, a price-to-earnings ratio of -65.83 and a beta of 1.77.

Ivanhoe Electric (TSE:IE) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.13 EPS for the quarter. The firm had revenue of C$0.76 million for the quarter. Ivanhoe Electric had a negative return on equity of 61.91% and a negative net margin of 5,947.22%.

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.