Turquoise Hill Resources Ltd. (TRQ) Stock Price Down 3.4%
Turquoise Hill Resources Ltd. (NYSE:TRQ) was down 3.4% during mid-day trading on Friday . The company traded as low as $3.12 and last traded at $3.12, with a volume of 1,075,771 shares. The stock had previously closed at $3.23.
A number of equities research analysts have recently issued reports on TRQ shares. TD Securities reiterated a “buy” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research note on Thursday, August 4th. Canaccord Genuity started coverage on Turquoise Hill Resources in a research note on Wednesday. They set a “hold” rating on the stock. Zacks Investment Research cut Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. TheStreet raised Turquoise Hill Resources from an “e+” rating to a “hold” rating in a report on Thursday, May 5th. Finally, Scotiabank reissued a “sector perform” rating and set a $5.50 target price on shares of Turquoise Hill Resources in a report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $4.67.
The stock has a market cap of $6.30 billion and a PE ratio of 18.52. The company’s 50-day moving average price is $3.37 and its 200 day moving average price is $2.87.
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, meeting analysts’ consensus estimates of ($0.01). The company earned $329.70 million during the quarter, compared to the consensus estimate of $316.13 million. The company’s revenue was down 21.7% on a year-over-year basis. During the same period last year, the firm posted $0.02 EPS. On average, equities research 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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