Scotiabank Reaffirms “Outperform” Rating for Turquoise Hill Resources (TRQ)
Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ)‘s stock had its “outperform” rating reissued by research analysts at Scotiabank in a note issued to investors on Friday. They currently have a C$5.75 price objective on the stock. Scotiabank’s price objective indicates a potential upside of 48.39% from the stock’s current price.
A number of other equities research analysts have also recently commented on TRQ. Eight Capital reaffirmed a “buy” rating on shares of Turquoise Hill Resources in a report on Thursday, August 17th. CIBC reaffirmed an “outperform” rating and issued a C$5.00 price target on shares of Turquoise Hill Resources in a report on Friday, September 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Turquoise Hill Resources has an average rating of “Buy” and a consensus price target of C$5.75.
Shares of Turquoise Hill Resources (TSE TRQ) traded up C$0.02 during midday trading on Friday, hitting C$3.88. The stock had a trading volume of 216,664 shares, compared to its average volume of 1,036,568. Turquoise Hill Resources has a 12-month low of C$3.25 and a 12-month high of C$4.92.
About Turquoise Hill Resources
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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