Turquoise Hill Resources Ltd. (TRQ) Stock Price Down 2.5%
Turquoise Hill Resources Ltd. (NYSE:TRQ) was down 2.5% during trading on Friday . The company traded as low as $3.11 and last traded at $3.13, with a volume of 1,598,585 shares trading hands. The stock had previously closed at $3.21.
A number of equities research analysts recently commented on TRQ shares. Royal Bank Of Canada started coverage on shares of Turquoise Hill Resources in a research report on Monday, July 18th. They set a “sector perform” rating and a $4.00 target price for the company. CIBC reissued a “sector perform” rating and set a $4.50 target price on shares of Turquoise Hill Resources in a research report on Sunday, April 24th. TD Securities reissued a “buy” rating and set a $5.50 target price on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Scotiabank reissued a “sector perform” rating and set a $5.00 target price on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of Turquoise Hill Resources from a “hold” rating to a “strong-buy” rating and set a $3.50 target price for the company in a research report on Friday, April 22nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Turquoise Hill Resources currently has an average rating of “Hold” and an average target price of $4.67.
The stock’s 50-day moving average price is $3.39 and its 200 day moving average price is $2.83. The company has a market cap of $6.30 billion and a price-to-earnings ratio of 18.52.
Turquoise Hill Resources (NYSE:TRQ) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). During the same quarter last year, the firm posted $0.02 EPS. The business earned $329.70 million during the quarter, compared to analyst estimates of $316.13 million. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. Equities research analysts expect that Turquoise Hill Resources Ltd. will post ($0.02) earnings per share for the current fiscal year.
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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