Turquoise Hill Resources Ltd (TSE:TRQ) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Turquoise Hill Resources Ltd (TSE:TRQ) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$5.10.
Several brokerages recently issued reports on TRQ. Scotiabank reiterated a “sector perform” rating and issued a C$5.00 target price on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. TD Securities reiterated a “buy” rating and issued a C$5.50 target price on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a C$5.00 target price on shares of Turquoise Hill Resources in a research report on Monday, July 18th. Canaccord Genuity reiterated a “hold” rating and issued a C$4.50 target price on shares of Turquoise Hill Resources in a research report on Wednesday, August 17th. Finally, CIBC upped their target price on shares of Turquoise Hill Resources from C$4.50 to C$5.00 in a research report on Wednesday, August 3rd.
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Shares of Turquoise Hill Resources (TSE:TRQ) traded up 0.77% during mid-day trading on Wednesday, hitting $3.94. The stock had a trading volume of 680,456 shares. The firm has a market capitalization of $7.93 billion and a price-to-earnings ratio of 23.31. The stock’s 50-day moving average is $4.02 and its 200 day moving average is $3.91. Turquoise Hill Resources has a 1-year low of $2.30 and a 1-year high of $4.72.
Turquoise Hill Resources Company Profile
Turquoise Hill Resources Ltd. (Turquoise Hill) 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 located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.
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