Turquoise Hill Resources Ltd. (NYSE:TRQ) Receives Average Recommendation of “Hold” from Analysts

Turquoise Hill Resources Ltd. (NYSE:TRQ – Get Rating) (TSE:TRQ) has earned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $27.36.

A number of equities analysts have recently issued reports on TRQ shares. Canaccord Genuity Group upgraded shares of Turquoise Hill Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from C$21.00 to C$28.00 in a research note on Tuesday, January 25th. Scotiabank increased their price objective on shares of Turquoise Hill Resources from C$42.00 to C$43.00 in a research note on Tuesday, April 19th. Macquarie upgraded shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 27th. StockNews.com started coverage on shares of Turquoise Hill Resources in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TD Securities upgraded shares of Turquoise Hill Resources from a “hold” rating to a “speculative buy” rating in a research note on Tuesday, January 25th.

NYSE:TRQ opened at $27.24 on Monday. The stock has a market cap of $5.48 billion, a P/E ratio of 10.44 and a beta of 1.87. Turquoise Hill Resources has a one year low of $9.75 and a one year high of $30.89. The company has a fifty day moving average price of $26.67 and a 200 day moving average price of $19.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.20 and a quick ratio of 0.89.

Turquoise Hill Resources (NYSE:TRQ – Get Rating) (TSE:TRQ) last released its earnings results on Wednesday, March 2nd. The basic materials company reported $0.78 EPS for the quarter. The firm had revenue of $503.90 million during the quarter. Turquoise Hill Resources had a net margin of 26.63% and a return on equity of 5.89%.

A number of large investors have recently modified their holdings of the business. Bornite Capital Management LP bought a new position in shares of Turquoise Hill Resources in the 1st quarter valued at about $4,506,000. Nexus Investment Management ULC bought a new position in shares of Turquoise Hill Resources in the 1st quarter valued at about $222,000. Norges Bank bought a new position in shares of Turquoise Hill Resources in the 4th quarter valued at about $16,024,000. AlphaCentric Advisors LLC bought a new position in shares of Turquoise Hill Resources in the 4th quarter valued at about $76,000. Finally, BlackRock Inc. raised its position in shares of Turquoise Hill Resources by 3.1% in the 4th quarter. BlackRock Inc. now owns 46,558 shares of the basic materials company’s stock valued at $766,000 after acquiring an additional 1,390 shares during the period. 34.39% of the stock is currently owned by hedge funds and other institutional investors.

Turquoise Hill Resources Company Profile (Get Rating)

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company primarily explores for copper, gold, and silver deposits. It engages in the operation and development of the Oyu Tolgoi copper-gold mine located in Southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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