Turquoise Hill Resources Ltd. (TRQ) Posts Quarterly Earnings Results
Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) posted its quarterly earnings results on Thursday. The basic materials company reported $0.03 earnings per share for the quarter, Briefing.com reports. Turquoise Hill Resources had a net margin of 14.20% and a return on equity of 1.60%. The business had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $246.86 million. During the same quarter in the prior year, the company posted ($0.02) EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis.
Turquoise Hill Resources (NYSE TRQ) traded up $0.03 during trading hours on Friday, hitting $3.12. 1,043,635 shares of the company were exchanged, compared to its average volume of 2,159,608. The stock has a market cap of $6,137.56, a PE ratio of 50.83 and a beta of 0.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.55 and a current ratio of 8.17.
Several research firms have recently weighed in on TRQ. BidaskClub cut shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. 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. Finally, CIBC initiated coverage on shares of Turquoise Hill Resources in a research report on Friday, September 15th. They set a “sector outperform” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.00.
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).
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