Turquoise Hill Resources Ltd. (NYSE:TRQ)’s share price dropped 4.2% on Monday . The stock traded as low as $3.33 and last traded at $3.41, with a volume of 2,076,962 shares trading hands. The stock had previously closed at $3.56.

TRQ has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Turquoise Hill Resources in a report on Monday, July 18th. They issued a “sector perform” rating and a $4.00 target price on the stock. CIBC reiterated a “sector perform” rating and issued a $4.50 target price on shares of Turquoise Hill Resources in a report on Sunday, April 24th. Scotiabank reiterated a “sector perform” rating and issued a $5.00 target price on shares of Turquoise Hill Resources in a report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Turquoise Hill Resources from a “hold” rating to a “strong-buy” rating and set a $3.50 target price on the stock in a report on Friday, April 22nd. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $5.00 target price on shares of Turquoise Hill Resources in a report on Tuesday, July 19th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Turquoise Hill Resources currently has a consensus rating of “Hold” and a consensus target price of $4.40.

The company has a market cap of $6.56 billion and a PE ratio of 19.52. The company has a 50-day moving average of $3.43 and a 200 day moving average of $2.77.

Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $329.70 million for the quarter, compared to analysts’ expectations of $316.13 million. The business’s revenue was down 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. Equities research analysts anticipate that Turquoise Hill Resources Ltd. will post ($0.03) earnings per share for the current year.

A hedge fund recently bought a new stake in Turquoise Hill Resources stock. OppenheimerFunds Inc. bought a new stake in shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 500,000 shares of the company’s stock, valued at 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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