Turquoise Hill Resources Ltd. (TRQ) Announces Quarterly Earnings Results
Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) issued its earnings results on Thursday. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, Briefing.com reports. The business had revenue of $246.90 million during the quarter, compared to analyst estimates of $246.86 million. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. Turquoise Hill Resources’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share.
TRQ has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $4.00 target price on shares of Turquoise Hill Resources in a research note on Wednesday, August 2nd. BidaskClub lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, CIBC began coverage on Turquoise Hill Resources in a research note on Friday, September 15th. They set a “sector outperform” rating for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Turquoise Hill Resources currently has a consensus rating of “Hold” and an average price target of $5.00.
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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