Turquoise Hill Resources Ltd (TRQ) Stock Rating Reaffirmed by CIBC
CIBC reaffirmed their outperform rating on shares of Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) in a research report sent to investors on Friday morning. The firm currently has a C$5.00 target price on the stock.
Several other equities research analysts also recently commented on TRQ. Eight Capital reiterated a buy rating on shares of Turquoise Hill Resources in a report on Thursday, August 17th. Scotiabank reiterated an outperform rating and set a C$6.00 target price on shares of Turquoise Hill Resources in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a sector perform rating and set a C$5.25 target price on shares of Turquoise Hill Resources in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of C$5.79.
Shares of Turquoise Hill Resources (TRQ) opened at 3.80 on Friday. The stock has a market capitalization of $7.65 billion and a price-to-earnings ratio of 63.33. The company’s 50 day moving average is $3.98 and its 200-day moving average is $3.81. Turquoise Hill Resources has a 1-year low of $3.25 and a 1-year high of $5.03.
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About Turquoise Hill Resources
Turquoise Hill Resources Ltd. 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 held through approximately 65% interest in Oyu Tolgoi LLC (Oyu Tolgoi) and the remaining approximately 35% interest is held by Erdenes Oyu Tolgoi LLC (Erdenes).
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