Turquoise Hill Resources Ltd. (TRQ) Shares Up 1.6%
Turquoise Hill Resources Ltd. (NYSE:TRQ) shot up 1.6% during mid-day trading on Friday . The stock traded as high as $3.13 and last traded at $3.11, with a volume of 1,808,595 shares traded. The stock had previously closed at $3.06.
Several brokerages have recently issued reports on TRQ. Scotiabank reissued 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. Zacks Investment Research cut shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd. TheStreet upgraded shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a report on Thursday, May 5th. RBC Capital Markets restated a “sector perform” rating and set a $5.00 target price on shares of Turquoise Hill Resources in a report on Tuesday, July 19th. Finally, Canaccord Genuity assumed coverage on shares of Turquoise Hill Resources in a report on Wednesday, August 17th. They set a “hold” rating and a $4.50 target price for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.64.
The company’s 50 day moving average price is $3.32 and its 200 day moving average price is $2.91. The stock has a market capitalization of $6.18 billion and a PE ratio of 18.17.
Turquoise Hill Resources (NYSE:TRQ) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm earned $329.70 million during the quarter, compared to analyst estimates of $316.13 million. The firm’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. On average, equities analysts expect that Turquoise Hill Resources Ltd. will post ($0.02) EPS 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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