Turquoise Hill Resources (TRQ) Trading Down 9.4%

Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ)’s share price traded down 9.4% on Tuesday . The stock traded as low as C$2.28 and last traded at C$2.31. 627,005 shares were traded during trading, a decline of 39% from the average session volume of 1,019,829 shares. The stock had previously closed at C$2.55.

Several equities analysts have weighed in on the stock. TD Securities lowered their price objective on shares of Turquoise Hill Resources from C$6.00 to C$5.50 and set a “buy” rating on the stock in a research report on Wednesday. CIBC lowered their price objective on shares of Turquoise Hill Resources from C$5.30 to C$5.10 in a research report on Friday, August 31st. Finally, CSFB reiterated a “neutral” rating and set a C$5.00 price objective on shares of Turquoise Hill Resources in a research report on Monday, September 10th.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last posted its quarterly earnings data on Tuesday, July 31st. The company reported C$0.12 earnings per share for the quarter. Turquoise Hill Resources had a net margin of 13.48% and a return on equity of 2.31%. The firm had revenue of C$441.06 million for the quarter.

In related news, Director Robert Peter Charles Gillin purchased 10,000 shares of the stock in a transaction dated Friday, September 7th. The shares were acquired at an average cost of C$2.89 per share, for a total transaction of C$28,900.00.

Turquoise Hill Resources Company Profile (TSE:TRQ)

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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