Turquoise Hill Resources Ltd (TSE:TRQ) Given “Outperform” Rating at Scotiabank
Scotiabank reissued their outperform rating on shares of Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) in a research note released on Wednesday morning. Scotiabank currently has a C$6.00 target price on the stock.
Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada reissued a sector perform rating and issued a C$5.50 price objective on shares of Turquoise Hill Resources in a research note on Thursday, April 20th. CSFB began coverage on Turquoise Hill Resources in a research note on Thursday, April 13th. They issued a neutral rating and a C$6.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of C$5.79.
Turquoise Hill Resources (TSE:TRQ) traded down 1.45% during mid-day trading on Wednesday, hitting $4.08. The company’s stock had a trading volume of 1,794,564 shares. The stock has a market cap of $8.21 billion and a P/E ratio of 64.76. The company’s 50 day moving average is $3.56 and its 200-day moving average is $3.96. Turquoise Hill Resources has a 52-week low of $3.25 and a 52-week high of $5.03.
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About Turquoise Hill Resources
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company engages in mining copper, gold, silver, and molybdenum. Its principal material mineral resource property is the Oyu Tolgoi copper-gold mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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