Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the company, Marketbeat reports. Five 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 issued ratings on the stock in the last year is $5.00.

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada set a $4.00 price target on shares of Turquoise Hill Resources and gave the company a “hold” rating in a research note on Tuesday. CIBC assumed coverage on shares of Turquoise Hill Resources in a research note on Friday, September 15th. They issued a “sector outperform” rating for the company. Finally, BidaskClub downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th.

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Shares of Turquoise Hill Resources (NYSE:TRQ) traded up 1.380% during trading on Thursday, hitting $3.305. 2,593,036 shares of the stock traded hands. Turquoise Hill Resources has a 1-year low of $2.44 and a 1-year high of $3.80. The firm has a 50-day moving average of $3.20 and a 200-day moving average of $2.92. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 55.083 and a beta of 0.36.

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 for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Turquoise Hill Resources had a net margin of 14.20% and a return on equity of 1.60%. The business had revenue of $203.70 million during the quarter, compared to the consensus estimate of $223.14 million. During the same quarter last year, the firm earned $0.01 earnings per share. Turquoise Hill Resources’s quarterly revenue was down 38.2% on a year-over-year basis. On average, equities analysts forecast that Turquoise Hill Resources will post $0.07 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS Asset Management Americas Inc. grew its holdings in shares of Turquoise Hill Resources by 6.0% during the first quarter. UBS Asset Management Americas Inc. now owns 2,275,743 shares of the basic materials company’s stock valued at $6,928,000 after buying an additional 128,490 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Turquoise Hill Resources by 52.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 58,400 shares of the basic materials company’s stock valued at $178,000 after buying an additional 20,000 shares during the last quarter. Credit Suisse AG grew its holdings in shares of Turquoise Hill Resources by 0.7% during the first quarter. Credit Suisse AG now owns 1,574,072 shares of the basic materials company’s stock valued at $4,830,000 after buying an additional 10,658 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Turquoise Hill Resources by 44.6% during the second quarter. Great West Life Assurance Co. Can now owns 925,119 shares of the basic materials company’s stock valued at $2,441,000 after buying an additional 285,510 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Turquoise Hill Resources by 7.9% during the first quarter. FMR LLC now owns 505,308 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 37,000 shares during the last quarter. 32.86% of the stock is owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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