Turquoise Hill Resources Ltd (TRQ) Given Consensus Rating of “Buy” by Brokerages
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) has been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$5.71.
Several brokerages have issued reports on TRQ. Eight Capital reissued a “buy” rating on shares of Turquoise Hill Resources in a research note on Thursday, August 17th. Scotiabank reissued an “outperform” rating and issued a C$5.50 price target on shares of Turquoise Hill Resources in a research note on Tuesday, October 17th. Finally, CIBC reissued an “outperform” rating and issued a C$5.00 price target on shares of Turquoise Hill Resources in a research note on Friday, September 15th.
Shares of Turquoise Hill Resources (TRQ) opened at 3.91 on Tuesday. The firm has a market capitalization of $7.87 billion and a P/E ratio of 65.17. Turquoise Hill Resources has a one year low of $3.25 and a one year high of $5.03. The firm’s 50-day moving average is $3.96 and its 200 day moving average is $3.77.
Turquoise Hill Resources Company Profile
Turquoise Hill Resources Ltd. 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 held through approximately 65% interest in Oyu Tolgoi LLC (Oyu Tolgoi) and the remaining approximately 35% interest is held by Erdenes Oyu Tolgoi LLC (Erdenes).
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