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.
COPYRIGHT VIOLATION NOTICE: “Brokerages Set Turquoise Hill Resources Ltd. (TRQ) Price Target at $5.00” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2017/09/20/brokerages-set-turquoise-hill-resources-ltd-trq-price-target-at-5-00.html.
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).
Receive News & Ratings for Turquoise Hill Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turquoise Hill Resources Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.