Raymond James Financial Lowers Ivanhoe Electric (TSE:IE) Price Target to C$20.00

Ivanhoe Electric (TSE:IE) had its price target decreased by Raymond James Financial from C$21.00 to C$20.00 in a research note issued on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 40.35% from the company’s current price.

Separately, National Bank Financial cut their price objective on shares of Ivanhoe Electric from C$30.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$23.17.

Ivanhoe Electric Stock Down 3.0%

TSE IE traded down C$0.44 on Thursday, hitting C$14.25. 14,269 shares of the company were exchanged, compared to its average volume of 30,597. The company has a current ratio of 5.05, a quick ratio of 8.83 and a debt-to-equity ratio of 6.97. The company has a market cap of C$2.27 billion, a PE ratio of -54.81 and a beta of 2.67. The stock has a fifty day moving average of C$14.07 and a 200-day moving average of C$15.80. Ivanhoe Electric has a 12 month low of C$11.04 and a 12 month high of C$28.81.

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.