Royal Bank Of Canada set a $4.00 price target on Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) in a report published on Tuesday. The brokerage currently has a hold rating on the basic materials company’s stock.
TRQ has been the topic of several other research reports. BidaskClub upgraded Turquoise Hill Resources from a sell rating to a hold rating in a report on Saturday, June 24th. CIBC assumed coverage on Turquoise Hill Resources in a report on Friday, September 15th. They issued a sector outperform rating on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $5.00.
Shares of Turquoise Hill Resources (TRQ) opened at 3.22 on Tuesday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 53.67 and a beta of 0.36. The firm has a 50-day moving average of $3.20 and a 200-day moving average of $2.92. Turquoise Hill Resources has a one year low of $2.44 and a one year high of $3.80.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings results on Monday, July 31st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $203.70 million for the quarter, compared to analysts’ expectations of $223.14 million. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The firm’s quarterly revenue was down 38.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. On average, equities analysts predict that Turquoise Hill Resources will post ($0.01) earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. boosted its holdings in Turquoise Hill Resources by 6.0% during the first quarter. UBS Asset Management Americas Inc. now owns 2,275,743 shares of the basic materials company’s stock worth $6,928,000 after buying an additional 128,490 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Turquoise Hill Resources by 52.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 58,400 shares of the basic materials company’s stock worth $178,000 after buying an additional 20,000 shares during the last quarter. Credit Suisse AG boosted its holdings in Turquoise Hill Resources by 0.7% during the first quarter. Credit Suisse AG now owns 1,574,072 shares of the basic materials company’s stock worth $4,830,000 after buying an additional 10,658 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Turquoise Hill Resources by 44.6% during the second quarter. Great West Life Assurance Co. Can now owns 925,119 shares of the basic materials company’s stock worth $2,441,000 after buying an additional 285,510 shares during the last quarter. Finally, FMR LLC boosted its holdings in Turquoise Hill Resources by 7.9% during the first quarter. FMR LLC now owns 505,308 shares of the basic materials company’s stock worth $1,542,000 after buying an additional 37,000 shares during the last quarter. Hedge funds and other institutional investors own 32.86% 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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