Turquoise Hill Resources Ltd. (NYSE:TRQ)‘s stock had its “sector perform” rating reaffirmed by research analysts at RBC Capital Markets in a research note issued on Thursday. They currently have a $5.00 target price on the stock. RBC Capital Markets’ price target would indicate a potential upside of 66.67% from the stock’s current price.

TRQ has been the topic of several other research reports. Zacks Investment Research cut shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Scotiabank reaffirmed a “sector perform” rating and issued a $5.00 price target on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. TD Securities reaffirmed a “buy” rating and issued a $5.50 price target on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Royal Bank Of Canada initiated coverage on shares of Turquoise Hill Resources in a research report on Monday, July 18th. They issued a “sector perform” rating and a $4.00 price target on the stock. Finally, Canaccord Genuity initiated coverage on shares of Turquoise Hill Resources in a research report on Wednesday, August 17th. They issued a “hold” rating and a $4.50 price target on the stock. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.64.

Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

Shares of Turquoise Hill Resources (NYSE:TRQ) opened at 3.00 on Thursday. The stock’s 50 day moving average price is $3.01 and its 200-day moving average price is $3.04. The company has a market cap of $6.04 billion, a PE ratio of 17.75 and a beta of 1.37. Turquoise Hill Resources has a one year low of $1.55 and a one year high of $3.67.

Turquoise Hill Resources (NYSE:TRQ) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Turquoise Hill Resources had a net margin of 22.14% and a return on equity of 4.77%. The business had revenue of $329.70 million for the quarter, compared to analysts’ expectations of $316.13 million. During the same quarter last year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts expect that Turquoise Hill Resources will post ($0.01) EPS for the current year.

Several large investors have recently modified their holdings of TRQ. Anchor Bolt Capital LP raised its stake in shares of Turquoise Hill Resources by 28.6% in the first quarter. Anchor Bolt Capital LP now owns 24,836,894 shares of the company’s stock valued at $63,086,000 after buying an additional 5,526,533 shares during the last quarter. Key Group Holdings Cayman LTD. bought a new stake in shares of Turquoise Hill Resources during the second quarter valued at about $13,717,000. Emerald Acquisition Ltd. bought a new stake in shares of Turquoise Hill Resources during the second quarter valued at about $12,798,000. Royal Bank of Canada raised its stake in shares of Turquoise Hill Resources by 33.0% in the first quarter. Royal Bank of Canada now owns 11,061,485 shares of the company’s stock valued at $28,097,000 after buying an additional 2,747,027 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Turquoise Hill Resources by 10.0% in the second quarter. Vanguard Group Inc. now owns 16,801,521 shares of the company’s stock valued at $56,789,000 after buying an additional 1,522,896 shares during the last quarter. Institutional investors own 30.14% of the company’s stock.

Turquoise Hill Resources Company Profile

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.

5 Day Chart for NYSE:TRQ

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