Turquoise Hill Resources (TRQ) PT Lowered to C$3.50
Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its target price reduced by investment analysts at CIBC from C$4.00 to C$3.50 in a research report issued to clients and investors on Monday. CIBC’s price objective would indicate a potential upside of 52.17% from the stock’s previous close.
Several other analysts have also recently weighed in on TRQ. TD Securities reduced their price objective on shares of Turquoise Hill Resources from C$6.00 to C$5.50 and set a “buy” rating on the stock in a research note on Thursday, February 28th. Canaccord Genuity dropped their target price on shares of Turquoise Hill Resources from C$6.75 to C$5.00 in a report on Tuesday, January 8th.
Shares of Turquoise Hill Resources stock opened at C$2.30 on Monday. The company has a current ratio of 5.17, a quick ratio of 2.78 and a debt-to-equity ratio of 50.20. Turquoise Hill Resources has a twelve month low of C$1.94 and a twelve month high of C$4.26. The firm has a market capitalization of $4.71 billion and a P/E ratio of 12.78.
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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