Turquoise Hill Resources Ltd. (TRQ) Reaches New 12-Month High at $3.64
Turquoise Hill Resources Ltd. (NYSE:TRQ) hit a new 52-week high on Thursday . The stock traded as high as $3.64 and last traded at $3.62, with a volume of 1,606,359 shares changing hands. The stock had previously closed at $3.56.
Several brokerages have weighed in on TRQ. Zacks Investment Research cut shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. TheStreet raised shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research report on Thursday, May 5th. Finally, CIBC reaffirmed a “sector perform” rating and issued a $4.50 target price on shares of Turquoise Hill Resources in a research report on Sunday, April 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Turquoise Hill Resources has an average rating of “Hold” and a consensus target price of $4.33.
The company has a market capitalization of $7.18 billion and a PE ratio of 21.38. The company has a 50 day moving average of $3.25 and a 200-day moving average of $2.65.
Turquoise Hill Resources (NYSE:TRQ) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. During the same quarter in the prior year, the firm posted $0.03 EPS. The business earned $422.70 million during the quarter, compared to the consensus estimate of $388.14 million. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts predict that Turquoise Hill Resources Ltd. will post ($0.04) earnings per share for the current year.
Other large investors have made changes to their positions in the company. OppenheimerFunds Inc. acquired a new stake in shares of Turquoise Hill Resources during the fourth quarter valued at $1,270,000. Commerzbank Aktiengesellschaft FI boosted 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 valued at $1,625,000 after buying an additional 613,492 shares in the last quarter. Finally, Russell Frank Co boosted 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 valued at $7,426,000 after buying an additional 13,868 shares in 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.
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