Turquoise Hill Resources Ltd (TRQ) Given a C$6.00 Price Target at Scotiabank
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) received a C$6.00 price target from equities research analysts at Scotiabank in a note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 79.64% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada restated a “sector perform” rating and set a C$5.25 price objective on shares of Turquoise Hill Resources in a research report on Thursday. TD Securities restated a “buy” rating and set a C$6.00 price objective on shares of Turquoise Hill Resources in a research report on Wednesday, March 29th. Finally, CSFB assumed coverage on shares of Turquoise Hill Resources in a research report on Thursday, April 13th. They set a “neutral” rating and a C$6.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of C$5.79.
Shares of Turquoise Hill Resources (TSE TRQ) traded up 2.69% during trading on Thursday, reaching $3.43. 284,394 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $3.55 and its 200 day moving average price is $4.14. The firm has a market capitalization of $6.90 billion and a PE ratio of 54.44. Turquoise Hill Resources has a 52 week low of $3.25 and a 52 week high of $5.03.
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About Turquoise Hill Resources
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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