Turquoise Hill Resources Ltd (TRQ) Receives Average Rating of “Buy” from Analysts
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$5.95.
Several equities analysts recently commented on TRQ shares. Scotiabank reissued an “outperform” rating and set a C$6.00 price target on shares of Turquoise Hill Resources in a research report on Wednesday, August 2nd. Royal Bank Of Canada reissued a “sector perform” rating and set a C$5.25 price target on shares of Turquoise Hill Resources in a research report on Thursday, June 22nd. Finally, Eight Capital reissued a “buy” rating on shares of Turquoise Hill Resources in a research report on Thursday, August 17th.
Shares of Turquoise Hill Resources (TSE TRQ) opened at 3.99 on Monday. Turquoise Hill Resources has a 1-year low of $3.25 and a 1-year high of $5.03. The company’s 50 day moving average is $3.98 and its 200-day moving average is $3.85. The stock has a market capitalization of $8.03 billion and a price-to-earnings ratio of 66.50.
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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