Analysts Set Turquoise Hill Resources Ltd (NYSE:TRQ) Target Price at $1.94

Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) have received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $1.94.

A number of research analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Turquoise Hill Resources from $1.50 to $2.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. CIBC raised Turquoise Hill Resources from a “neutral” rating to a “sector outperform” rating in a research report on Monday, July 6th. TheStreet upgraded Turquoise Hill Resources from a “d” rating to a “c” rating in a research note on Tuesday, July 28th. Canaccord Genuity raised their price objective on Turquoise Hill Resources from $2.25 to $2.50 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Royal Bank of Canada reduced their target price on Turquoise Hill Resources from $1.50 to $1.25 and set a “sector perform” rating for the company in a report on Wednesday, August 5th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors increased its position in Turquoise Hill Resources by 62.3% in the 1st quarter. Capital World Investors now owns 22,159,576 shares of the basic materials company’s stock worth $8,533,000 after buying an additional 8,505,800 shares during the period. Franklin Resources Inc. grew its stake in shares of Turquoise Hill Resources by 22.3% in the first quarter. Franklin Resources Inc. now owns 137,934 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 25,122 shares during the last quarter. APG Asset Management N.V. acquired a new position in Turquoise Hill Resources during the 1st quarter valued at $2,253,000. Swiss National Bank raised its stake in Turquoise Hill Resources by 46.4% during the 2nd quarter. Swiss National Bank now owns 2,263,600 shares of the basic materials company’s stock valued at $1,656,000 after purchasing an additional 717,600 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Turquoise Hill Resources by 1,542.9% in the 1st quarter. UBS Group AG now owns 81,356 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 76,404 shares during the period. 35.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TRQ traded up $0.02 during midday trading on Wednesday, reaching $0.87. 3,645,353 shares of the stock were exchanged, compared to its average volume of 2,835,495. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 5.12 and a beta of 1.95. The company has a quick ratio of 3.28, a current ratio of 3.62 and a debt-to-equity ratio of 0.52. Turquoise Hill Resources has a 12-month low of $0.30 and a 12-month high of $1.20. The firm has a 50 day simple moving average of $0.93 and a 200-day simple moving average of $0.68.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $277.97 million for the quarter. Turquoise Hill Resources had a return on equity of 4.10% and a net margin of 38.73%.

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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Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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