Turquoise Hill Resources Ltd. (TRQ) Stock Price Up 1.7%
Turquoise Hill Resources Ltd. (NYSE:TRQ)’s share price rose 1.7% during trading on Tuesday . The company traded as high as $3.54 and last traded at $3.49, with a volume of 1,165,414 shares. The stock had previously closed at $3.43.
TRQ has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Turquoise Hill Resources from a “hold” rating to a “strong-buy” rating and set a $3.50 price objective for the company in a research note on Friday, April 22nd. CIBC reaffirmed a “sector perform” rating and issued a $4.50 price objective on shares of Turquoise Hill Resources in a research note on Sunday, April 24th. TheStreet raised shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research note on Thursday, May 5th. Royal Bank Of Canada started coverage on shares of Turquoise Hill Resources in a research note on Monday, July 18th. They issued a “sector perform” rating and a $4.00 price objective for the company. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $5.00 target price on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.40.
The firm’s 50-day moving average price is $3.44 and its 200-day moving average price is $2.78. The firm has a market cap of $6.47 billion and a price-to-earnings ratio of 19.485.
Turquoise Hill Resources (NYSE:TRQ) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The company earned $329.70 million during the quarter, compared to the consensus estimate of $316.13 million. The company’s revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. Analysts forecast that Turquoise Hill Resources Ltd. will post ($0.03) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Turquoise Hill Resources stock. OppenheimerFunds Inc. purchased a new stake in shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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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