Turquoise Hill Resources (NYSE:TRQ) Upgraded to “Outperform” at Scotiabank

Turquoise Hill Resources (NYSE:TRQGet Rating) (TSE:TRQ) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Macquarie upgraded shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 27th. Royal Bank of Canada upped their price objective on Turquoise Hill Resources from C$21.00 to C$25.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 26th. Eight Capital raised shares of Turquoise Hill Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 25th. Canaccord Genuity Group raised shares of Turquoise Hill Resources from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $28.00 in a research note on Tuesday, January 25th. Finally, BMO Capital Markets upgraded Turquoise Hill Resources from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $20.00 to $34.00 in a report on Tuesday, March 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.06.

Shares of NYSE TRQ opened at $26.39 on Thursday. The business has a 50 day moving average price of $27.75 and a two-hundred day moving average price of $20.16. The firm has a market cap of $5.31 billion, a PE ratio of 10.11 and a beta of 1.81. Turquoise Hill Resources has a fifty-two week low of $9.75 and a fifty-two week high of $30.89. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.42.

Turquoise Hill Resources (NYSE:TRQGet Rating) (TSE:TRQ) last posted its quarterly earnings data on Wednesday, March 2nd. The basic materials company reported $0.78 earnings per share for the quarter. Turquoise Hill Resources had a net margin of 26.63% and a return on equity of 5.89%. The business had revenue of $503.90 million during the quarter.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Turquoise Hill Resources by 3.1% during the 4th quarter. BlackRock Inc. now owns 46,558 shares of the basic materials company’s stock worth $766,000 after acquiring an additional 1,390 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Turquoise Hill Resources by 10.3% during the 4th quarter. Van ECK Associates Corp now owns 18,520 shares of the basic materials company’s stock worth $305,000 after buying an additional 1,734 shares during the period. Shell Asset Management Co. grew its stake in Turquoise Hill Resources by 20.1% in the 4th quarter. Shell Asset Management Co. now owns 11,334 shares of the basic materials company’s stock valued at $187,000 after buying an additional 1,900 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Turquoise Hill Resources by 1.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 165,508 shares of the basic materials company’s stock valued at $2,445,000 after acquiring an additional 2,577 shares during the period. Finally, Stifel Financial Corp lifted its position in Turquoise Hill Resources by 22.3% during the fourth quarter. Stifel Financial Corp now owns 14,193 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 2,585 shares during the last quarter. Institutional investors and hedge funds own 34.39% of the company’s stock.

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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