Brokerages Set Turquoise Hill Resources Ltd. (TRQ) Price Target at $5.00

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.00.

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $4.00 price target on shares of Turquoise Hill Resources in a research note on Wednesday, August 2nd. CIBC assumed coverage on Turquoise Hill Resources in a research note on Friday, September 15th. They issued a “sector outperform” rating on the stock. BidaskClub lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, ValuEngine lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raffles Associates LP acquired a new stake in shares of Turquoise Hill Resources during the 2nd quarter valued at $530,000. Verition Fund Management LLC acquired a new stake in shares of Turquoise Hill Resources during the 2nd quarter valued at $155,000. Bank of Nova Scotia boosted its holdings in shares of Turquoise Hill Resources by 33.6% during the 2nd quarter. Bank of Nova Scotia now owns 918,914 shares of the basic materials company’s stock valued at $2,445,000 after acquiring an additional 230,862 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Turquoise Hill Resources by 1,035.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 133,994 shares of the basic materials company’s stock valued at $462,000 after acquiring an additional 122,194 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Turquoise Hill Resources by 699.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 171,706 shares of the basic materials company’s stock valued at $455,000 after acquiring an additional 150,218 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors.

Turquoise Hill Resources (NYSE:TRQ) traded down 0.32% during trading on Friday, reaching $3.11. The company’s stock had a trading volume of 3,772,369 shares. Turquoise Hill Resources has a 1-year low of $2.44 and a 1-year high of $3.80. The stock has a market cap of $6.26 billion, a P/E ratio of 51.83 and a beta of 0.40. The company’s 50 day moving average price is $3.19 and its 200-day moving average price is $2.92.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings results on Monday, July 31st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The company had revenue of $203.70 million for the quarter, compared to analyst estimates of $223.14 million. During the same quarter last year, the company posted $0.01 EPS. The company’s revenue for the quarter was down 38.2% compared to the same quarter last year. Equities analysts forecast that Turquoise Hill Resources will post $0.02 earnings per share for the current fiscal year.

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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).

Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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