Turquoise Hill Resources Ltd. (TRQ) Given “Outperform” Rating at Scotiabank

Turquoise Hill Resources Ltd. (TSE:TRQ) (NYSE:TRQ)‘s stock had its “outperform” rating restated by equities research analysts at Scotiabank in a report released on Monday, November 6th. They currently have a C$5.50 target price on the stock. Scotiabank’s target price would indicate a potential upside of 41.03% from the stock’s previous close.

A number of other analysts have also weighed in on TRQ. Eight Capital restated a “buy” rating on shares of Turquoise Hill Resources in a research report on Thursday, August 17th. CIBC reaffirmed an “outperform” rating and set a C$5.00 price target on shares of Turquoise Hill Resources in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$5.71.

Shares of Turquoise Hill Resources (TSE TRQ) traded down C$0.01 during trading hours on Monday, hitting C$3.90. 310,231 shares of the company’s stock were exchanged, compared to its average volume of 1,052,574. Turquoise Hill Resources has a 1 year low of C$3.25 and a 1 year high of C$4.94.

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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).

Analyst Recommendations for Turquoise Hill Resources (TSE:TRQ)

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