Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $2.13.
TRQ has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 7th. Macquarie upgraded shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a research report on Friday, October 11th.
Several hedge funds have recently made changes to their positions in the company. NEXT Financial Group Inc boosted its position in Turquoise Hill Resources by 3,200.0% during the 2nd quarter. NEXT Financial Group Inc now owns 33,000 shares of the basic materials company’s stock worth $41,000 after buying an additional 32,000 shares during the period. Aperio Group LLC raised its stake in Turquoise Hill Resources by 2.7% in the second quarter. Aperio Group LLC now owns 1,474,067 shares of the basic materials company’s stock valued at $1,828,000 after buying an additional 39,266 shares during the last quarter. CIBC Asset Management Inc raised its stake in Turquoise Hill Resources by 5.6% in the second quarter. CIBC Asset Management Inc now owns 658,506 shares of the basic materials company’s stock valued at $820,000 after buying an additional 35,091 shares during the last quarter. Signition LP raised its stake in Turquoise Hill Resources by 22.3% in the second quarter. Signition LP now owns 406,400 shares of the basic materials company’s stock valued at $504,000 after buying an additional 74,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Turquoise Hill Resources by 11.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,572 shares of the basic materials company’s stock valued at $632,000 after buying an additional 53,800 shares during the last quarter. Institutional investors own 35.67% of the company’s stock.
Turquoise Hill Resources stock traded up $0.08 during mid-day trading on Monday, hitting $0.69. The company’s stock had a trading volume of 88,957 shares, compared to its average volume of 2,969,685. The company has a quick ratio of 4.91, a current ratio of 5.24 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.14 billion, a P/E ratio of 2.46 and a beta of 1.16. Turquoise Hill Resources has a twelve month low of $0.40 and a twelve month high of $2.17. The stock’s fifty day moving average price is $0.47 and its two-hundred day moving average price is $0.67.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings results on Tuesday, November 12th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $209.20 million for the quarter. Turquoise Hill Resources had a negative net margin of 12.60% and a positive return on equity of 5.34%.
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 mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd.
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