Turquoise Hill Resources Ltd. (NYSE:TRQ) Receives Consensus Rating of “Hold” from Analysts

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.10.

A number of research firms recently issued reports on TRQ. TD Securities increased their target price on Turquoise Hill Resources from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, March 10th. Canaccord Genuity decreased their price target on shares of Turquoise Hill Resources from C$25.00 to C$24.00 and set a “hold” rating for the company in a research note on Friday, May 14th. Macquarie cut shares of Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 13th. BMO Capital Markets decreased their price target on shares of Turquoise Hill Resources from C$21.00 to C$18.00 and set a “market perform” rating for the company in a research note on Friday, May 14th. Finally, Scotiabank decreased their price target on shares of Turquoise Hill Resources from C$32.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday, May 14th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc lifted its holdings in Turquoise Hill Resources by 33.7% during the 1st quarter. NEXT Financial Group Inc now owns 4,278 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,078 shares during the last quarter. FIL Ltd acquired a new stake in Turquoise Hill Resources during the 4th quarter valued at $76,000. Citigroup Inc. lifted its holdings in Turquoise Hill Resources by 189.7% during the 4th quarter. Citigroup Inc. now owns 7,881 shares of the basic materials company’s stock valued at $98,000 after purchasing an additional 5,161 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Turquoise Hill Resources by 264.2% during the 1st quarter. Van ECK Associates Corp now owns 10,005 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 7,258 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Turquoise Hill Resources during the 4th quarter valued at $126,000. 34.78% of the stock is owned by institutional investors.

Shares of NYSE:TRQ opened at $17.04 on Friday. The company has a 50 day moving average price of $17.97. Turquoise Hill Resources has a fifty-two week low of $6.27 and a fifty-two week high of $21.89. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. The firm has a market cap of $3.43 billion, a P/E ratio of 5.66 and a beta of 2.15.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its earnings results on Wednesday, May 12th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.47. Turquoise Hill Resources had a return on equity of 7.31% and a net margin of 41.38%. The business had revenue of $526.55 million during the quarter.

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 develops and operates the Oyu Tolgoi copper-gold mine located in Southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd.

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Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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