Turquoise Hill Resources Ltd (TRQ) Rating Reiterated by Royal Bank Of Canada
Turquoise Hill Resources Ltd (TSE:TRQ)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued on Thursday, StockTargetPrices.com reports. They currently have a C$5.00 price target on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 29.20% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. CIBC increased their target price on Turquoise Hill Resources from C$4.50 to C$5.00 in a research note on Wednesday, August 3rd. TD Securities restated a “buy” rating and set a C$5.50 price objective on shares of Turquoise Hill Resources in a research note on Thursday, August 4th. Canaccord Genuity restated a “hold” rating and set a C$4.50 price objective on shares of Turquoise Hill Resources in a research note on Wednesday, August 17th. Finally, Scotiabank restated a “sector perform” rating and set a C$5.00 price objective on shares of Turquoise Hill Resources in a research note on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Turquoise Hill Resources has an average rating of “Hold” and a consensus price target of C$5.10.
Shares of Turquoise Hill Resources (TSE:TRQ) traded down 1.28% during trading on Thursday, hitting $3.87. The stock had a trading volume of 613,602 shares. The stock has a 50 day moving average price of $3.95 and a 200-day moving average price of $3.94. Turquoise Hill Resources has a one year low of $2.30 and a one year high of $4.72. The stock has a market capitalization of $7.79 billion and a price-to-earnings ratio of 22.90.
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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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