Turquoise Hill Resources Ltd. (TRQ) Trading Up 1.6%
Turquoise Hill Resources Ltd. (NYSE:TRQ)’s share price was up 1.6% during 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. The stock had previously closed at $3.06.
Several equities analysts have recently commented on TRQ shares. Royal Bank Of Canada started 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 for the company. Scotiabank restated 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. TheStreet upgraded shares of Turquoise Hill Resources from an “e+” rating to a “hold” rating in a research report on Thursday, May 5th. Canaccord Genuity started coverage on shares of Turquoise Hill Resources in a research report on Wednesday, August 17th. They set a “hold” rating and a $4.50 price target for the company. Finally, Zacks Investment Research lowered shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.64.
The firm’s 50 day moving average price is $3.33 and its 200 day moving average price is $2.90. The firm has a market capitalization of $6.18 billion and a P/E ratio of 18.17.
Turquoise Hill Resources (NYSE:TRQ) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). During the same period last year, the business earned $0.02 earnings per share. The firm earned $329.70 million during the quarter, compared to the consensus estimate of $316.13 million. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts anticipate that Turquoise Hill Resources Ltd. will post ($0.02) earnings per share 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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