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

Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) has received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.75.

A number of research firms have commented on TRQ. Scotiabank restated a “buy” rating and set a $5.50 price target on shares of Turquoise Hill Resources in a research note on Monday, November 6th. Royal Bank of Canada set a $4.00 price target on Turquoise Hill Resources and gave the stock a “hold” rating in a research note on Tuesday, October 10th.

Shares of Turquoise Hill Resources (NYSE:TRQ) traded up $0.11 during trading on Friday, reaching $3.37. The company had a trading volume of 4,840,000 shares, compared to its average volume of 2,980,000. The stock has a market capitalization of $6,750.00, a price-to-earnings ratio of 30.64 and a beta of 0.30. Turquoise Hill Resources has a 52 week low of $2.44 and a 52 week high of $3.80. The company has a quick ratio of 6.38, a current ratio of 6.85 and a debt-to-equity ratio of 0.52.

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

A number of large investors have recently added to or reduced their stakes in TRQ. Capital Growth Management LP lifted its stake in Turquoise Hill Resources by 430.9% during the third quarter. Capital Growth Management LP now owns 38,225,000 shares of the basic materials company’s stock worth $118,498,000 after purchasing an additional 31,025,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Turquoise Hill Resources by 20.5% in the second quarter. Vanguard Group Inc. now owns 22,470,490 shares of the basic materials company’s stock valued at $59,547,000 after acquiring an additional 3,824,469 shares in the last quarter. Key Group Holdings Cayman LTD. raised its stake in shares of Turquoise Hill Resources by 24.4% in the second quarter. Key Group Holdings Cayman LTD. now owns 8,968,520 shares of the basic materials company’s stock valued at $23,819,000 after acquiring an additional 1,758,133 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Turquoise Hill Resources by 18.1% in the third quarter. Russell Investments Group Ltd. now owns 7,191,115 shares of the basic materials company’s stock valued at $22,293,000 after acquiring an additional 1,104,444 shares in the last quarter. Finally, Investec Asset Management LTD acquired a new stake in shares of Turquoise Hill Resources in the third quarter valued at $3,227,000. Institutional investors own 33.86% of the company’s stock.

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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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