Turquoise Hill Resources Ltd. (TRQ) Receives Average Recommendation of “Hold” from Brokerages
Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) has been given an average recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $5.00.
Several brokerages have recently issued reports on TRQ. CIBC began coverage on Turquoise Hill Resources in a research report on Friday. They issued a “sector outperform” rating for the company. BidaskClub lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada reissued a “hold” rating and issued a $4.00 target price on shares of Turquoise Hill Resources in a research report on Wednesday, August 2nd. Finally, ValuEngine lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
Institutional investors have recently bought and sold shares of the stock. Greenleaf Trust purchased a new stake in shares of Turquoise Hill Resources in the 2nd quarter worth approximately $122,000. Van ECK Associates Corp grew its stake in shares of Turquoise Hill Resources by 15.1% in the 2nd quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock worth $129,000 after buying an additional 6,360 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Turquoise Hill Resources in the 1st quarter worth approximately $163,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of Turquoise Hill Resources by 11.2% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 55,537 shares of the basic materials company’s stock worth $170,000 after buying an additional 5,579 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Turquoise Hill Resources by 52.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 58,400 shares of the basic materials company’s stock worth $178,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 32.86% of the company’s stock.
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Shares of Turquoise Hill Resources (TRQ) traded down 0.64% during midday trading on Friday, reaching $3.10. The company’s stock had a trading volume of 1,915,494 shares. Turquoise Hill Resources has a 52-week low of $2.44 and a 52-week high of $3.80. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 51.67 and a beta of 0.40. The stock has a 50-day moving average price of $3.20 and a 200-day moving average price of $2.93.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its earnings results on Monday, July 31st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The firm had revenue of $203.70 million during the quarter, compared to analyst estimates of $223.14 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s revenue was down 38.2% compared to the same quarter last year. Equities research analysts anticipate that Turquoise Hill Resources will post $0.02 earnings per share for the current fiscal year.
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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