Scotiabank Reiterates “Outperform” Rating for Turquoise Hill Resources Ltd (TRQ)
Scotiabank reissued their outperform rating on shares of Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) in a report issued on Monday morning. Scotiabank currently has a C$5.50 target price on the stock.
Several other research firms also recently issued reports on TRQ. CIBC reissued an outperform rating and issued a C$5.00 price target on shares of Turquoise Hill Resources in a research note on Friday, September 15th. Eight Capital reaffirmed a buy rating on shares of Turquoise Hill Resources in a research report on Thursday, August 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of C$5.71.
Shares of Turquoise Hill Resources (TSE TRQ) opened at C$3.96 on Monday. Turquoise Hill Resources has a 12 month low of C$3.25 and a 12 month high of C$5.03.
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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