Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 19th.
Several other brokerages also recently issued reports on TRQ. Royal Bank Of Canada reissued a “hold” rating and issued a $4.00 price target on shares of Turquoise Hill Resources in a report on Thursday, May 25th. Credit Suisse Group restated a “neutral” rating on shares of Turquoise Hill Resources in a research report on Tuesday, April 18th. Finally, ValuEngine cut Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $4.90.
Turquoise Hill Resources (TRQ) opened at 3.25 on Wednesday. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 54.17 and a beta of 0.39. Turquoise Hill Resources has a 12-month low of $2.44 and a 12-month high of $3.80. The stock has a 50 day moving average price of $2.83 and a 200-day moving average price of $3.00.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its quarterly earnings results on Monday, July 31st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $203.70 million for the quarter, compared to the consensus estimate of $223.14 million. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The business’s revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. Equities analysts forecast that Turquoise Hill Resources will post ($0.01) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Greenleaf Trust acquired a new stake in Turquoise Hill Resources during the second quarter valued at approximately $122,000. Highbridge Capital Management LLC purchased a new position in shares of Turquoise Hill Resources during the fourth quarter valued at about $150,000. Paloma Partners Management Co purchased a new position in shares of Turquoise Hill Resources during the first quarter valued at about $163,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of Turquoise Hill Resources by 11.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 55,537 shares of the basic materials company’s stock valued at $170,000 after buying an additional 5,579 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Turquoise Hill Resources by 52.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 58,400 shares of the basic materials company’s stock valued at $178,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 31.32% of the company’s stock.
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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