Turquoise Hill Resources (TRQ) Shares Up -4.3%
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) shares shot up 4.3% on Friday . The stock traded as high as C$4.25 and last traded at C$4.03. 782,441 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 561,442 shares. The stock had previously closed at C$4.21.
Separately, Scotiabank set a C$5.75 target price on shares of Turquoise Hill Resources and gave the company an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$5.60.
The company has a market cap of $8,650.00, a P/E ratio of 29.93 and a beta of -0.14.
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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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