Turquoise Hill Resources Ltd. (TRQ) Stock Price Down 1.7%
Turquoise Hill Resources Ltd. (NYSE:TRQ)’s share price traded down 1.7% during mid-day trading on Friday . The stock traded as low as $3.55 and last traded at $3.57, with a volume of 962,247 shares. The stock had previously closed at $3.63.
Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. TheStreet raised Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research note on Thursday, May 5th. Finally, CIBC reissued 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 assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.33.
The stock’s 50 day moving average price is $3.25 and its 200-day moving average price is $2.65. The company has a market cap of $7.18 billion and a P/E ratio of 21.38.
Turquoise Hill Resources (NYSE:TRQ) last released 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. The company had revenue of $422.70 million for the quarter, compared to analysts’ expectations of $388.14 million. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. On average, equities research analysts expect that Turquoise Hill Resources Ltd. will post ($0.04) earnings per share for the current fiscal year.
Several large investors have made changes to their positions in TRQ. 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 in 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 in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Turquoise Hill Resources during the fourth quarter worth approximately $1,270,000.
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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