Turquoise Hill Resources Ltd (TRQ) Given Outperform Rating at CIBC
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ)‘s stock had its “outperform” rating restated by research analysts at CIBC in a note issued to investors on Friday. They currently have a C$5.00 price objective on the stock. CIBC’s price objective would suggest a potential upside of 32.98% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Scotiabank set a C$6.00 price target on Turquoise Hill Resources and gave the stock an “outperform” rating in a report on Thursday, June 22nd. Eight Capital reaffirmed a “buy” rating on shares of Turquoise Hill Resources in a report on Thursday, August 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a C$5.25 price objective on shares of Turquoise Hill Resources in a report on Thursday, June 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Turquoise Hill Resources presently has an average rating of “Buy” and a consensus target price of C$5.79.
Turquoise Hill Resources (TSE TRQ) traded down 1.05% during trading on Friday, reaching $3.76. The company had a trading volume of 1,889,347 shares. Turquoise Hill Resources has a 1-year low of $3.25 and a 1-year high of $5.03. The stock has a market capitalization of $7.57 billion and a price-to-earnings ratio of 62.67. The firm has a 50-day moving average of $3.99 and a 200-day moving average of $3.82.
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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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