Turquoise Hill Resources (NYSE:TRQ) Upgraded at ValuEngine

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Monday, ValuEngine reports.

Several other brokerages also recently commented on TRQ. Eight Capital downgraded shares of Turquoise Hill Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 16th. Royal Bank of Canada dropped their price objective on shares of Turquoise Hill Resources from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 17th. TD Securities reissued a “speculative buy” rating and issued a $2.25 price objective (down previously from $4.00) on shares of Turquoise Hill Resources in a research note on Wednesday, July 17th. CIBC cut shares of Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 17th. Finally, TheStreet cut shares of Turquoise Hill Resources from a “c-” rating to a “d” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $2.52.

NYSE:TRQ traded down $0.01 on Monday, hitting $0.43. The company had a trading volume of 1,920,400 shares, compared to its average volume of 6,039,651. The stock has a market capitalization of $865.70 million, a price-to-earnings ratio of 2.09 and a beta of 1.12. The company has a current ratio of 6.20, a quick ratio of 5.81 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $0.46 and a two-hundred day moving average of $1.01. Turquoise Hill Resources has a 52 week low of $0.40 and a 52 week high of $2.17.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.08 EPS for the quarter. The business had revenue of $382.75 million during the quarter. Turquoise Hill Resources had a negative net margin of 13.64% and a positive return on equity of 5.04%.

A number of hedge funds and other institutional investors have recently made changes to their positions in TRQ. Great West Life Assurance Co. Can increased its position in shares of Turquoise Hill Resources by 41.2% during the first quarter. Great West Life Assurance Co. Can now owns 680,779 shares of the basic materials company’s stock worth $1,113,000 after buying an additional 198,720 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of Turquoise Hill Resources during the first quarter worth $121,000. U S Global Investors Inc. acquired a new stake in shares of Turquoise Hill Resources during the first quarter worth $664,000. Marshall Wace LLP acquired a new stake in shares of Turquoise Hill Resources during the first quarter worth $6,769,000. Finally, Marshall Wace North America L.P. increased its position in shares of Turquoise Hill Resources by 738.2% during the first quarter. Marshall Wace North America L.P. now owns 1,089,005 shares of the basic materials company’s stock worth $1,804,000 after buying an additional 959,086 shares during the period. Hedge funds and other institutional investors own 39.25% of the company’s stock.

About Turquoise Hill Resources

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, and silver deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd.

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