Scotiabank reiterated their buy rating on shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) in a research note published on Monday morning. Scotiabank currently has a $5.50 target price on the basic materials company’s stock.

Several other brokerages have also weighed in on TRQ. Royal Bank Of Canada reaffirmed a hold rating and set a $4.00 price objective on shares of Turquoise Hill Resources in a research report on Wednesday, August 2nd. CIBC began coverage on shares of Turquoise Hill Resources in a research report on Friday, September 15th. They set a sector outperform rating on the stock. Finally, BidaskClub lowered shares of Turquoise Hill Resources from a buy rating to a hold rating in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $4.75.

Shares of Turquoise Hill Resources (NYSE:TRQ) traded down $0.04 on Monday, reaching $3.17. 985,773 shares of the company traded hands, compared to its average volume of 2,320,000. The company has a market capitalization of $6,360.00, a price-to-earnings ratio of 28.36 and a beta of 0.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 6.38 and a current ratio of 6.85. Turquoise Hill Resources has a 52-week low of $2.44 and a 52-week high of $3.80.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.03 earnings per share for the quarter. The firm had revenue of $246.90 million for the quarter, compared to analyst estimates of $246.86 million. Turquoise Hill Resources had a net margin of 24.48% and a return on equity of 2.81%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) earnings per share.

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Large investors have recently added to or reduced their stakes in the company. Greenleaf Trust bought a new position in shares of Turquoise Hill Resources in the second quarter valued at approximately $122,000. Van ECK Associates Corp raised its position in shares of Turquoise Hill Resources by 15.1% in the second quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 6,360 shares during the period. Verition Fund Management LLC bought a new position in shares of Turquoise Hill Resources in the second quarter valued at approximately $155,000. Paloma Partners Management Co bought a new position in shares of Turquoise Hill Resources in the first quarter valued at approximately $163,000. Finally, Virtu KCG Holdings LLC raised its position in shares of Turquoise Hill Resources by 25.0% in the second quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 13,416 shares during the period. 32.85% of the stock is currently owned by institutional investors.

About Turquoise Hill Resources

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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