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Analysts Set Turquoise Hill Resources Ltd (TRQ) Target Price at $5.17 www.watchlistnews.com
Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $5.17.
Several research analysts recently issued reports on TRQ shares. Royal Bank of Canada reissued a “hold” rating on shares of Turquoise Hill Resources in a research note on Wednesday. Credit Suisse Group AG restated a “neutral” rating on shares of Turquoise Hill Resources in a report on Tuesday, April 18th.
Institutional investors have recently made changes to their positions in the stock. Bourgeon Capital Management LLC increased its position in shares of Turquoise Hill Resources by 1.6% in the third quarter. Bourgeon Capital Management LLC now owns 87,325 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,369 shares during the last quarter. Nwam LLC purchased a new position in shares of Turquoise Hill Resources during the third quarter valued at about $267,000. Kopernik Global Investors LLC increased its position in shares of Turquoise Hill Resources by 13.9% in the third quarter. Kopernik Global Investors LLC now owns 11,149,464 shares of the basic materials company’s stock valued at $33,115,000 after buying an additional 1,360,761 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Turquoise Hill Resources by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,158,511 shares of the basic materials company’s stock valued at $3,441,000 after buying an additional 2,928 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Turquoise Hill Resources by 3.3% in the third quarter. UBS Asset Management Americas Inc. now owns 1,972,066 shares of the basic materials company’s stock valued at $5,822,000 after buying an additional 62,179 shares during the last quarter. 30.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Turquoise Hill Resources (NYSE:TRQ) traded down 1.11% during midday trading on Tuesday, reaching $2.67. The company’s stock had a trading volume of 4,999,234 shares. Turquoise Hill Resources has a one year low of $2.57 and a one year high of $3.80. The stock has a market cap of $5.37 billion, a PE ratio of 26.70 and a beta of 0.74. The firm has a 50-day moving average of $3.06 and a 200-day moving average of $3.26.
Turquoise Hill Resources (NYSE:TRQ) last released its earnings results on Monday, March 27th. The basic materials company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $215.65 million. Turquoise Hill Resources had a return on equity of 3.78% and a net margin of 21.61%. The company’s quarterly revenue was down 36.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share.
About Turquoise Hill Resources
Turquoise Hill Resources Ltd. (Turquoise Hill) 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 located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.
Published Date:2017-04-24
