Turquoise Hill Resources Ltd (TRQ) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$5.79.
A number of research firms have recently commented on TRQ. Scotiabank set a C$6.00 price objective on Turquoise Hill Resources and gave the stock an “outperform” rating in a research note on Thursday, June 22nd. CIBC reiterated an “outperform” rating and issued a C$5.00 price objective on shares of Turquoise Hill Resources in a research note on Friday, September 15th. Eight Capital reiterated a “buy” rating on shares of Turquoise Hill Resources in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a C$5.25 price objective on shares of Turquoise Hill Resources in a research note on Thursday, June 22nd.
Turquoise Hill Resources (TSE:TRQ) opened at 4.10 on Friday. The stock has a market cap of $8.25 billion and a P/E ratio of 68.33. The company has a 50-day moving average price of $3.94 and a 200-day moving average price of $3.78. Turquoise Hill Resources has a one year low of $3.25 and a one year high of $5.03.
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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