Turquoise Hill Resources Ltd. (NYSE:TRQ) shares saw strong trading volume on Tuesday . 2,898,357 shares changed hands during trading, a decline of 7% from the previous session’s volume of 3,114,503 shares.The stock last traded at $3.55 and had previously closed at $3.54.

Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. TheStreet upgraded shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research report on Thursday, May 5th. Finally, CIBC reiterated a “sector perform” rating and issued a $4.50 price target on shares of Turquoise Hill Resources in a research report on Sunday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $4.33.

The firm’s 50 day moving average price is $3.18 and its 200-day moving average price is $2.63. The firm has a market capitalization of $7.10 billion and a P/E ratio of 21.14.

Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Thursday, May 5th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05. The business earned $422.70 million during the quarter, compared to analyst estimates of $388.14 million. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Analysts predict that Turquoise Hill Resources Ltd. will post ($0.04) EPS for the current year.

A number of large investors have recently modified their holdings of the company. OppenheimerFunds Inc. purchased a new stake in shares of Turquoise Hill Resources during the fourth quarter worth about $1,270,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Turquoise Hill Resources by 24.6% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 4,068,298 shares of the company’s stock worth $14,280,000 after buying an additional 802,900 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Turquoise Hill Resources by 2,318.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 639,958 shares of the company’s stock worth $1,625,000 after buying an additional 613,492 shares during the last quarter. Korea Investment CORP increased its stake in shares of Turquoise Hill Resources by 369.3% in the fourth quarter. Korea Investment CORP now owns 681,900 shares of the company’s stock worth $1,723,000 after buying an additional 536,600 shares during the last quarter. Finally, Russell Frank Co increased its stake in shares of Turquoise Hill Resources by 0.5% in the fourth quarter. Russell Frank Co now owns 2,934,815 shares of the company’s stock worth $7,426,000 after buying an additional 13,868 shares during the last quarter.

Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company. The Company focuses on the operation and further development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is the Company’s principal material mineral resource property. The Company’s Oyu Tolgoi mine is located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.