Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) had its price objective increased by Canaccord Genuity from $14.00 to $16.50 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 41.03% from the stock’s current price.
A number of other research firms also recently weighed in on TRQ. BMO Capital Markets began coverage on Turquoise Hill Resources in a research note on Tuesday, January 5th. They issued an “outperform” rating for the company. Scotiabank raised their target price on shares of Turquoise Hill Resources from $22.50 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 11th. Finally, TD Securities upped their target price on shares of Turquoise Hill Resources from $17.50 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.10.
Turquoise Hill Resources stock opened at $11.70 on Tuesday. The company has a current ratio of 3.17, a quick ratio of 2.81 and a debt-to-equity ratio of 0.51. Turquoise Hill Resources has a 1-year low of $3.01 and a 1-year high of $14.62. The company has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $9.54. The company has a market cap of $2.35 billion, a P/E ratio of 6.03 and a beta of 2.12.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings data on Wednesday, November 18th. The basic materials company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.35). The business had revenue of $264.52 million for the quarter. Turquoise Hill Resources had a return on equity of 4.76% and a net margin of 42.70%.
Several large investors have recently modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of Turquoise Hill Resources by 0.5% during the third quarter. Toronto Dominion Bank now owns 333,418 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 1,818 shares during the period. LPL Financial LLC raised its stake in Turquoise Hill Resources by 30.1% in the 3rd quarter. LPL Financial LLC now owns 42,381 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 9,800 shares in the last quarter. Swiss National Bank raised its stake in Turquoise Hill Resources by 1.3% in the 3rd quarter. Swiss National Bank now owns 2,293,100 shares of the basic materials company’s stock worth $1,937,000 after purchasing an additional 29,500 shares in the last quarter. Equitable Holdings Inc. acquired a new position in shares of Turquoise Hill Resources during the 3rd quarter worth approximately $36,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Turquoise Hill Resources by 126.0% during the second quarter. Great West Life Assurance Co. Can now owns 96,067 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 53,567 shares during the period.
Turquoise Hill Resources Company Profile
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, and silver deposits. It primarily develops and operates the Oyu Tolgoi copper-gold mine located in southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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