Turquoise Hill Resources Ltd. (TRQ) Stock Price Up 3.9%
Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) rose 3.9% on Thursday . The stock traded as high as $3.21 and last traded at $3.20, with a volume of 1,658,674 shares changing hands. The stock had previously closed at $3.08.
TRQ has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on Turquoise Hill Resources in a report on Monday, July 18th. They issued a “sector perform” rating and a $4.00 price target on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $5.00 price target on shares of Turquoise Hill Resources in a report on Tuesday, July 19th. Zacks Investment Research raised Turquoise Hill Resources from a “hold” rating to a “strong-buy” rating and set a $3.50 price target on the stock in a report on Friday, April 22nd. TheStreet raised Turquoise Hill Resources from an “e+” rating to a “hold” rating in a report on Thursday, May 5th. Finally, Canaccord Genuity initiated coverage on Turquoise Hill Resources in a report on Wednesday. They issued a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Turquoise Hill Resources currently has a consensus rating of “Hold” and a consensus price target of $4.67.
The stock has a market cap of $6.50 billion and a P/E ratio of 19.11. The firm’s 50-day moving average price is $3.38 and its 200 day moving average price is $2.86.
Turquoise Hill Resources (NYSE:TRQ) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The firm earned $329.70 million during the quarter, compared to the consensus estimate of $316.13 million. The business’s revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Equities analysts anticipate that Turquoise Hill Resources Ltd. will post ($0.02) earnings per share for the current 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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