Turquoise Hill Resources (TRQ) Trading Down 5.3%
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) shares dropped 5.3% during trading on Thursday . The company traded as low as C$2.32 and last traded at C$2.32. Approximately 93,891 shares were traded during trading, a decline of 91% from the average daily volume of 1,047,099 shares. The stock had previously closed at C$2.45.
TRQ has been the subject of a number of analyst reports. CIBC cut their price target on shares of Turquoise Hill Resources from C$5.30 to C$5.10 in a research note on Friday, August 31st. CSFB restated a “neutral” rating and set a C$5.00 price target on shares of Turquoise Hill Resources in a research note on Monday, September 10th. Finally, TD Securities cut their price target on shares of Turquoise Hill Resources from C$6.00 to C$5.50 and set a “buy” rating for the company in a research note on Wednesday, October 17th.
The company has a current ratio of 5.17, a quick ratio of 2.78 and a debt-to-equity ratio of 50.20.
In other news, Director Ulf Quellmann acquired 19,600 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was bought at an average price of C$2.47 per share, with a total value of C$48,412.00.
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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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