Turquoise Hill Resources Ltd. (TRQ) Shares Up 1.7%
Turquoise Hill Resources Ltd. (NYSE:TRQ) shares shot up 1.7% on Tuesday . The company traded as high as $3.54 and last traded at $3.49, with a volume of 1,165,414 shares changing hands. The stock had previously closed at $3.43.
A number of brokerages have weighed in on TRQ. Scotiabank reaffirmed a “sector perform” rating and set a $5.00 price target on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $5.00 price target 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 target on the stock. Zacks Investment Research cut shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Finally, TheStreet raised shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research report on Thursday, May 5th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.40.
The stock has a 50 day moving average price of $3.43 and a 200 day moving average price of $2.76. The company has a market capitalization of $6.96 billion and a PE ratio of 20.72.
Turquoise Hill Resources (NYSE:TRQ) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05. During the same period in the prior year, the business earned $0.03 EPS. The business had revenue of $422.70 million for the quarter, compared to analyst estimates of $388.14 million. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts forecast that Turquoise Hill Resources Ltd. will post ($0.03) EPS for the current fiscal year.
A hedge fund recently bought a new stake in Turquoise Hill Resources stock. OppenheimerFunds Inc. purchased a new position in Turquoise Hill Resources Ltd. (NYSE:TRQ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 500,000 shares of the company’s stock, valued at approximately $1,270,000.
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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