Turquoise Hill Resources Ltd. (TRQ) Trading Down 3.4%
Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) were down 3.4% during trading on Friday . The stock traded as low as $3.12 and last traded at $3.12, with a volume of 1,075,771 shares trading hands. The stock had previously closed at $3.23.
Several analysts have recently commented on TRQ shares. CIBC reissued a “sector perform” rating and issued a $4.50 price target on shares of Turquoise Hill Resources in a report on Sunday, April 24th. TheStreet raised Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research note on Thursday, May 5th. Zacks Investment Research downgraded Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Royal Bank Of Canada initiated coverage on 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 reaffirmed a “sector perform” rating and issued a $5.00 price objective on shares of Turquoise Hill Resources in a research note on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.67.
The firm has a 50-day moving average of $3.37 and a 200-day moving average of $2.87. The company has a market capitalization of $6.30 billion and a P/E ratio of 18.52.
Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $329.70 million for the quarter, compared to the consensus estimate of $316.13 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts forecast that Turquoise Hill Resources Ltd. will post ($0.02) EPS 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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