Canaccord Genuity upgraded shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) from a hold rating to a buy rating in a research note published on Monday.

Several other equities research analysts have also recently issued reports on TRQ. Scotiabank reissued a sector perform rating and set a $5.50 target price on shares of Turquoise Hill Resources in a research note on Tuesday, November 8th. Credit Suisse Group AG reissued a neutral rating and set a $5.00 target price (up previously from $4.75) on shares of Turquoise Hill Resources in a research note on Wednesday, October 26th. TD Securities reissued a buy rating and set a $5.50 target price on shares of Turquoise Hill Resources in a research note on Sunday, November 6th. RBC Capital Markets reissued a sector perform rating and set a $5.00 target price on shares of Turquoise Hill Resources in a research note on Tuesday, July 19th. Finally, Royal Bank Of Canada initiated coverage on Turquoise Hill Resources in a research note on Monday, July 18th. They set a sector perform rating and a $4.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Turquoise Hill Resources has an average rating of Hold and an average target price of $4.69.

Turquoise Hill Resources (NYSE:TRQ) opened at 3.35 on Monday. The company’s 50-day moving average price is $3.07 and its 200-day moving average price is $3.12. Turquoise Hill Resources has a 12-month low of $1.55 and a 12-month high of $3.67. The stock has a market cap of $6.74 billion, a PE ratio of 23.43 and a beta of 0.60.

Turquoise Hill Resources (NYSE:TRQ) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Turquoise Hill Resources had a return on equity of 3.78% and a net margin of 21.61%. The firm earned $226.30 million during the quarter, compared to analysts’ expectations of $221.19 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was down 47.6% on a year-over-year basis. On average, equities analysts expect that Turquoise Hill Resources will post $0.03 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of TRQ. Emerald Acquisition Ltd. acquired a new stake in Turquoise Hill Resources during the second quarter valued at approximately $12,798,000. Swiss National Bank raised its position in Turquoise Hill Resources by 4.1% in the second quarter. Swiss National Bank now owns 5,692,800 shares of the company’s stock valued at $19,162,000 after buying an additional 224,600 shares during the last quarter. World Asset Management Inc raised its position in Turquoise Hill Resources by 8.1% in the second quarter. World Asset Management Inc now owns 124,551 shares of the company’s stock valued at $421,000 after buying an additional 9,383 shares during the last quarter. Bank of New York Mellon Corp raised its position in Turquoise Hill Resources by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,155,583 shares of the company’s stock valued at $3,906,000 after buying an additional 4,138 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in Turquoise Hill Resources by 211.1% in the second quarter. CIBC World Markets Inc. now owns 825,786 shares of the company’s stock valued at $2,791,000 after buying an additional 560,362 shares during the last quarter. Institutional investors own 29.95% of the company’s stock.

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.

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