Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other brokerages also recently commented on TRQ. Royal Bank Of Canada reaffirmed a “hold” rating and set a $4.00 target price on shares of Turquoise Hill Resources in a report on Wednesday, August 2nd. Credit Suisse Group reaffirmed a “neutral” rating on shares of Turquoise Hill Resources in a report on Tuesday, April 18th. Finally, ValuEngine downgraded Turquoise Hill Resources from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.90.

Shares of Turquoise Hill Resources (TRQ) traded up 2.92% during trading on Wednesday, hitting $3.17. The stock had a trading volume of 924,434 shares. The stock has a 50 day moving average price of $2.95 and a 200-day moving average price of $2.97. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 52.83 and a beta of 0.39. Turquoise Hill Resources has a one year low of $2.44 and a one year high of $3.80.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its earnings results on Monday, July 31st. The basic materials company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $203.70 million for the quarter, compared to the consensus estimate of $223.14 million. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The business’s quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. On average, equities research analysts predict that Turquoise Hill Resources will post $0.01 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of TRQ. Korea Investment CORP raised its position in Turquoise Hill Resources by 369.3% in the fourth quarter. Korea Investment CORP now owns 681,900 shares of the basic materials company’s stock valued at $1,723,000 after buying an additional 536,600 shares during the period. Morgan Stanley raised its position in Turquoise Hill Resources by 33.5% in the fourth quarter. Morgan Stanley now owns 3,080,568 shares of the basic materials company’s stock valued at $7,826,000 after buying an additional 773,219 shares during the period. Hexavest Inc. raised its position in Turquoise Hill Resources by 48.3% in the fourth quarter. Hexavest Inc. now owns 1,141,740 shares of the basic materials company’s stock valued at $2,885,000 after buying an additional 371,966 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Turquoise Hill Resources by 2,318.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 639,958 shares of the basic materials company’s stock valued at $1,625,000 after buying an additional 613,492 shares during the period. Finally, Russell Frank Co raised its position in Turquoise Hill Resources by 0.5% in the fourth quarter. Russell Frank Co now owns 2,934,815 shares of the basic materials company’s stock valued at $7,426,000 after buying an additional 13,868 shares during the period. 31.28% of the stock is owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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