Turquoise Hill Resources Ltd. (TRQ) Stock Price Down 2.5%
Turquoise Hill Resources Ltd. (NYSE:TRQ)’s share price fell 2.5% during trading on Friday . The stock traded as low as $3.11 and last traded at $3.13, with a volume of 1,598,585 shares trading hands. The stock had previously closed at $3.21.
Several equities analysts recently commented on TRQ shares. Scotiabank restated a “sector perform” rating and issued a $5.50 price objective on shares of Turquoise Hill Resources in a research note on Thursday, August 4th. Zacks Investment Research downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. TheStreet upgraded shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research note on Thursday, May 5th. RBC Capital Markets restated 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. Finally, TD Securities restated a “buy” rating and issued a $5.50 price objective on shares of Turquoise Hill Resources in a research note on Thursday, August 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Turquoise Hill Resources currently has an average rating of “Hold” and an average target price of $4.67.
The firm has a market capitalization of $6.30 billion and a price-to-earnings ratio of 18.52. The firm has a 50 day moving average of $3.40 and a 200 day moving average of $2.82.
Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $329.70 million for the quarter, compared to analyst estimates of $316.13 million. The business’s revenue was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. Analysts expect that Turquoise Hill Resources Ltd. will post ($0.03) 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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