Turquoise Hill Resources Ltd. (TRQ) Receives Average Rating of “Hold” from Analysts
Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.75.
A number of analysts have recently issued reports on TRQ shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Turquoise Hill Resources in a research report on Wednesday, August 2nd. Scotiabank reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Turquoise Hill Resources in a research report on Monday, November 6th. CIBC started coverage on Turquoise Hill Resources in a research report on Friday, September 15th. They issued a “sector outperform” rating for the company. Finally, BidaskClub cut Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.
Turquoise Hill Resources (NYSE TRQ) traded up $0.01 during mid-day trading on Monday, hitting $3.12. The stock had a trading volume of 1,261,800 shares, compared to its average volume of 3,721,051. Turquoise Hill Resources has a 52 week low of $2.44 and a 52 week high of $3.80. The company has a quick ratio of 6.38, a current ratio of 6.85 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $6,258.30, a PE ratio of 28.27 and a beta of 0.33.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.03 EPS for the quarter. Turquoise Hill Resources had a return on equity of 2.81% and a net margin of 24.48%. The firm had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $246.86 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Greenleaf Trust bought a new position in Turquoise Hill Resources during the 2nd quarter worth $122,000. Van ECK Associates Corp increased its stake in Turquoise Hill Resources by 15.1% during the 2nd quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 6,360 shares during the period. Verition Fund Management LLC bought a new position in Turquoise Hill Resources during the 2nd quarter worth $155,000. Paloma Partners Management Co bought a new position in Turquoise Hill Resources during the 1st quarter worth $163,000. Finally, Virtu KCG Holdings LLC increased its stake in Turquoise Hill Resources by 25.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock worth $178,000 after acquiring an additional 13,416 shares during the period. Institutional investors own 32.85% of the company’s stock.
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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).
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