Turquoise Hill Resources Ltd. (TRQ) Receives Average Rating of “Hold” from Analysts

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) have received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.75.

TRQ has been the topic of a number of research reports. BidaskClub downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. CIBC initiated coverage on shares of Turquoise Hill Resources in a research report on Friday, September 15th. They set a “sector outperform” rating on the stock. Royal Bank Of Canada set a $4.00 target price on shares of Turquoise Hill Resources and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, Scotiabank restated a “buy” rating and set a $5.50 target price on shares of Turquoise Hill Resources in a research report on Monday, November 6th.

Shares of Turquoise Hill Resources (TRQ) traded up $0.05 during trading hours on Friday, reaching $3.00. 2,943,323 shares of the company’s stock were exchanged, compared to its average volume of 3,605,240. Turquoise Hill Resources has a 12-month low of $2.44 and a 12-month high of $3.80. The company has a current ratio of 6.85, a quick ratio of 6.38 and a debt-to-equity ratio of 0.52. The company has a market cap of $5,940.00, a price-to-earnings ratio of 27.45 and a beta of 0.33.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.03 EPS for the quarter. Turquoise Hill Resources had a net margin of 24.48% and a return on equity of 2.81%. The firm had revenue of $246.90 million for the quarter, compared to analyst estimates of $246.86 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s revenue was up 9.1% on a year-over-year basis.

A number of institutional investors have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board lifted its position in Turquoise Hill Resources by 0.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 735,496 shares of the basic materials company’s stock valued at $1,954,000 after purchasing an additional 5,500 shares during the period. Van ECK Associates Corp raised its position 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 valued at $129,000 after acquiring an additional 6,360 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Turquoise Hill Resources by 0.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,287,262 shares of the basic materials company’s stock valued at $6,076,000 after acquiring an additional 11,519 shares during the period. Virtu KCG Holdings LLC raised its position in shares of Turquoise Hill Resources by 25.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock valued at $178,000 after acquiring an additional 13,416 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of Turquoise Hill Resources by 4.7% in the 2nd quarter. Global X Management Co. LLC now owns 604,523 shares of the basic materials company’s stock valued at $1,602,000 after acquiring an additional 26,887 shares during the period. Institutional investors own 33.87% of the company’s stock.

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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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