Turquoise Hill Resources Ltd. (TRQ) Sets New 1-Year High at $3.64
Turquoise Hill Resources Ltd. (NYSE:TRQ)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.64 and last traded at $3.62, with a volume of 1,606,359 shares. The stock had previously closed at $3.56.
A number of equities 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 report on Wednesday, June 22nd. TheStreet raised shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a report on Thursday, May 5th. Finally, CIBC reiterated a “sector perform” rating and set a $4.50 target price on shares of Turquoise Hill Resources in a research note on Sunday, April 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.33.
The stock’s 50 day moving average price is $3.21 and its 200 day moving average price is $2.64. The stock has a market cap of $7.28 billion and a price-to-earnings ratio of 21.68.
Turquoise Hill Resources (NYSE:TRQ) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The firm earned $422.70 million during the quarter, compared to the consensus estimate of $388.14 million. Turquoise Hill Resources’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. On average, equities analysts anticipate that Turquoise Hill Resources Ltd. will post ($0.04) earnings per share for the current fiscal year.
Other institutional investors have recently bought and sold shares of the company. OppenheimerFunds Inc. purchased a new position in 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 position in 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 period. Commerzbank Aktiengesellschaft FI increased its position in 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 period. Finally, Russell Frank Co increased its position in 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 period.
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.
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