BidaskClub cut shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
Several other research firms have also commented on TRQ. Royal Bank Of Canada reissued a hold rating and set a $4.00 target price on shares of Turquoise Hill Resources in a research note on Wednesday, August 2nd. Credit Suisse Group reissued a neutral rating on shares of Turquoise Hill Resources in a research note on Tuesday, April 18th. Finally, ValuEngine lowered shares of Turquoise Hill Resources from a buy rating to a hold rating in a research note on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $5.00.
Turquoise Hill Resources (TRQ) opened at 3.10 on Wednesday. The firm has a 50-day moving average of $3.00 and a 200-day moving average of $2.97. Turquoise Hill Resources has a one year low of $2.44 and a one year high of $3.80. The stock has a market capitalization of $6.24 billion, a PE ratio of 51.67 and a beta of 0.39.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its earnings results on Monday, July 31st. The basic materials company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Turquoise Hill Resources had a net margin of 14.20% and a return on equity of 1.60%. The business had revenue of $203.70 million during the quarter, compared to analyst estimates of $223.14 million. During the same period in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was down 38.2% on a year-over-year basis. On average, equities research analysts forecast that Turquoise Hill Resources will post $0.01 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in TRQ. World Asset Management Inc raised its stake in Turquoise Hill Resources by 1.5% in the first quarter. World Asset Management Inc now owns 125,401 shares of the basic materials company’s stock worth $385,000 after buying an additional 1,806 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in Turquoise Hill Resources by 7.6% in the first quarter. Bourgeon Capital Management LLC now owns 70,462 shares of the basic materials company’s stock worth $216,000 after buying an additional 5,000 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Turquoise Hill Resources by 0.8% in the second quarter. State of Wisconsin Investment Board now owns 735,496 shares of the basic materials company’s stock worth $1,954,000 after buying an additional 5,500 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in 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 worth $170,000 after buying an additional 5,579 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Turquoise Hill Resources by 15.1% in the second quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock worth $129,000 after buying an additional 6,360 shares in the last quarter. Institutional investors and hedge funds own 31.28% of the company’s stock.
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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