Turquoise Hill Resources Ltd. (TRQ) Trading 3.9% Higher
Turquoise Hill Resources Ltd. (NYSE:TRQ) shares traded up 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 traded. The stock had previously closed at $3.08.
Several brokerages have recently commented on TRQ. Canaccord Genuity began coverage on shares of Turquoise Hill Resources in a research report on Wednesday. They set a “hold” rating on the stock. RBC Capital Markets restated a “sector perform” rating and set a $5.00 price objective on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. Royal Bank Of Canada began 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 price objective on the stock. Scotiabank restated a “sector perform” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Finally, TD Securities restated a “buy” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Turquoise Hill Resources has an average rating of “Hold” and a consensus target price of $4.67.
The stock’s 50 day moving average price is $3.37 and its 200 day moving average price is $2.87. The company has a market cap of $6.30 billion and a P/E ratio of 18.52.
Turquoise Hill Resources (NYSE:TRQ) last released its earnings results on Tuesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $329.70 million for the quarter, compared to analysts’ expectations of $316.13 million. The firm’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. Analysts predict 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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