Turquoise Hill Resources Ltd. (TRQ) Raised to “Buy” at BidaskClub
Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
A number of other equities analysts also recently weighed in on TRQ. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $4.00 price target on shares of Turquoise Hill Resources in a research note on Thursday, May 25th. ValuEngine downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Turquoise Hill Resources in a research note on Tuesday, April 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.90.
Shares of Turquoise Hill Resources (NYSE TRQ) traded up 1.05% on Wednesday, reaching $2.88. The company had a trading volume of 5,061,827 shares. The stock has a market capitalization of $5.80 billion, a PE ratio of 45.71 and a beta of 0.34. Turquoise Hill Resources has a 52-week low of $2.44 and a 52-week high of $3.80. The company has a 50 day moving average price of $2.63 and a 200 day moving average price of $3.01.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings results on Monday, May 15th. The basic materials company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. Turquoise Hill Resources had a net margin of 13.03% and a return on equity of 1.68%. The business had revenue of $237.50 million for the quarter, compared to the consensus estimate of $233.49 million. During the same period in the prior year, the business posted $0.06 earnings per share. Turquoise Hill Resources’s revenue for the quarter was down 43.8% compared to the same quarter last year. On average, equities research analysts anticipate that Turquoise Hill Resources will post ($0.01) earnings per share for the current year.
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Large investors have recently modified their holdings of the company. Aperio Group LLC boosted its stake in shares of Turquoise Hill Resources by 240.2% in the second quarter. Aperio Group LLC now owns 200,537 shares of the basic materials company’s stock worth $531,000 after buying an additional 141,585 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Turquoise Hill Resources during the second quarter worth about $475,000. Bank of Nova Scotia boosted its stake in shares of Turquoise Hill Resources by 34.5% in the first quarter. Bank of Nova Scotia now owns 688,052 shares of the basic materials company’s stock worth $2,101,000 after buying an additional 176,572 shares in the last quarter. Credit Suisse AG boosted its stake in shares of Turquoise Hill Resources by 0.7% in the first quarter. Credit Suisse AG now owns 1,574,072 shares of the basic materials company’s stock worth $4,830,000 after buying an additional 10,658 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Turquoise Hill Resources during the first quarter worth about $163,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.
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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