Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.75.
Several research analysts have recently issued reports on TRQ shares. Scotiabank restated a “buy” rating and issued a $5.50 price target on shares of Turquoise Hill Resources in a research report on Monday, November 6th. BidaskClub lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada set a $4.00 price target on Turquoise Hill Resources and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, CIBC started coverage on Turquoise Hill Resources in a research report on Friday, September 15th. They issued a “sector outperform” rating on the stock.
Turquoise Hill Resources (NYSE TRQ) traded down $0.02 during trading hours on Friday, hitting $2.93. The stock had a trading volume of 1,836,263 shares, compared to its average volume of 3,582,546. Turquoise Hill Resources has a 1-year low of $2.44 and a 1-year high of $3.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.85 and a quick ratio of 6.38. The company has a market cap of $6,036.94, a price-to-earnings ratio of 27.27 and a beta of 0.30.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.03 earnings per share (EPS) for the quarter. Turquoise Hill Resources had a return on equity of 2.81% and a net margin of 24.48%. The business had revenue of $246.90 million for the quarter, compared to analyst estimates of $246.86 million. During the same period last year, the company earned ($0.02) EPS. The firm’s revenue was up 9.1% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of TRQ. Van ECK Associates Corp lifted its holdings in Turquoise Hill Resources by 15.1% during the second quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 6,360 shares in the last quarter. Verition Fund Management LLC bought a new position in Turquoise Hill Resources during the second quarter worth about $155,000. Virtu KCG Holdings LLC lifted its holdings in Turquoise Hill Resources by 25.0% during the second quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock worth $178,000 after acquiring an additional 13,416 shares in the last quarter. Korea Investment CORP bought a new position in Turquoise Hill Resources during the third quarter worth about $215,000. Finally, Marshall Wace North America L.P. bought a new position in Turquoise Hill Resources during the second quarter worth about $249,000. Hedge funds and other institutional investors own 33.87% of the company’s stock.
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About Turquoise Hill Resources
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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