Turquoise Hill Resources Ltd (NYSE:TRQ) Receives $2.13 Average PT from Analysts

Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.13.

A number of equities analysts recently commented on TRQ shares. ValuEngine raised shares of Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a research note on Monday, October 7th. Macquarie raised shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a research note on Friday, October 11th.

NYSE:TRQ traded up $0.06 during trading hours on Monday, reaching $0.75. The company’s stock had a trading volume of 10,599,520 shares, compared to its average volume of 3,044,556. The company has a market capitalization of $1.24 billion, a P/E ratio of 2.67 and a beta of 1.16. Turquoise Hill Resources has a 12 month low of $0.40 and a 12 month high of $2.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.91 and a current ratio of 5.24. The stock has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $0.67.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings data on Tuesday, November 12th. The basic materials company reported $0.04 EPS for the quarter. The company had revenue of $209.20 million during the quarter. Turquoise Hill Resources had a negative net margin of 12.60% and a positive return on equity of 5.34%.

Large investors have recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in Turquoise Hill Resources in the second quarter worth approximately $30,000. NEXT Financial Group Inc raised its stake in Turquoise Hill Resources by 3,200.0% in the second quarter. NEXT Financial Group Inc now owns 33,000 shares of the basic materials company’s stock worth $41,000 after buying an additional 32,000 shares in the last quarter. Man Group plc bought a new position in Turquoise Hill Resources in the second quarter worth approximately $45,000. Jane Street Group LLC raised its stake in Turquoise Hill Resources by 153.6% in the second quarter. Jane Street Group LLC now owns 37,900 shares of the basic materials company’s stock worth $47,000 after buying an additional 22,954 shares in the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of Turquoise Hill Resources during the second quarter worth $68,000. 35.67% of the stock is owned by institutional investors.

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.

Further Reading: Retained Earnings

Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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