Turquoise Hill Resources (TSE:TRQ) Given New C$5.30 Price Target at CIBC

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its price target dropped by equities research analysts at CIBC from C$6.00 to C$5.30 in a research report issued to clients and investors on Friday, March 23rd. CIBC’s price objective points to a potential upside of 38.02% from the stock’s current price.

Separately, Scotiabank set a C$5.00 target price on Turquoise Hill Resources and gave the stock an “outperform” rating in a research report on Friday, March 16th.

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Shares of TSE:TRQ opened at C$3.84 on Friday. Turquoise Hill Resources has a 1-year low of C$3.25 and a 1-year high of C$4.52.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last issued its quarterly earnings data on Thursday, March 15th. The company reported C$0.04 earnings per share (EPS) for the quarter. Turquoise Hill Resources had a return on equity of 2.31% and a net margin of 13.48%. The firm had revenue of C$319.68 million during the quarter.

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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).

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