CIBC Increases Turquoise Hill Resources (TRQ) Price Target to C$6.00

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its price target increased by research analysts at CIBC from C$5.00 to C$6.00 in a report issued on Monday. CIBC’s target price would suggest a potential upside of 43.20% from the stock’s previous close.

Separately, Scotiabank reaffirmed an “outperform” rating and set a C$5.50 price target on shares of Turquoise Hill Resources in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of C$5.80.

Turquoise Hill Resources (TSE TRQ) traded up C$0.16 during trading on Monday, hitting C$4.19. 896,541 shares of the stock traded hands, compared to its average volume of 585,377. Turquoise Hill Resources has a 52 week low of C$3.25 and a 52 week high of C$4.92. The firm has a market capitalization of $8,430.00, a price-to-earnings ratio of 29.93 and a beta of -0.14.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last released its quarterly earnings data on Thursday, November 2nd. The company reported C$0.04 earnings per share (EPS) for the quarter. Turquoise Hill Resources had a net margin of 19.31% and a return on equity of 2.97%.

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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).

Analyst Recommendations for Turquoise Hill Resources (TSE:TRQ)

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