Royal Bank Of Canada set a $4.00 target price on Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) in a research note published on Tuesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

TRQ has been the topic of a number of other reports. CIBC started coverage on Turquoise Hill Resources in a research report on Friday, September 15th. They set a sector outperform rating on the stock. BidaskClub upgraded Turquoise Hill Resources from a hold rating to a buy rating in a research report on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Turquoise Hill Resources has an average rating of Hold and an average price target of $5.00.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its earnings results on Monday, July 31st. The basic materials company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The firm had revenue of $203.70 million for the quarter, compared to analysts’ expectations of $223.14 million. During the same period last year, the firm earned $0.01 EPS. The company’s quarterly revenue was down 38.2% on a year-over-year basis.

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Large investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. grew its position in shares of Turquoise Hill Resources by 6.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,275,743 shares of the basic materials company’s stock valued at $6,928,000 after acquiring an additional 128,490 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Turquoise Hill Resources by 52.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 58,400 shares of the basic materials company’s stock valued at $178,000 after acquiring an additional 20,000 shares during the period. Credit Suisse AG grew its position in shares of Turquoise Hill Resources by 0.7% during the 1st quarter. Credit Suisse AG now owns 1,574,072 shares of the basic materials company’s stock valued at $4,830,000 after acquiring an additional 10,658 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Turquoise Hill Resources by 44.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 925,119 shares of the basic materials company’s stock valued at $2,441,000 after acquiring an additional 285,510 shares during the period. Finally, FMR LLC grew its position in shares of Turquoise Hill Resources by 7.9% during the 1st quarter. FMR LLC now owns 505,308 shares of the basic materials company’s stock valued at $1,542,000 after acquiring an additional 37,000 shares during the period. Hedge funds and other institutional investors own 32.86% of the company’s stock.

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).

Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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