Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) has been assigned a C$6.00 price objective by Scotiabank in a note issued to investors on Thursday, June 22nd. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 65.29% from the company’s current price.
Other analysts have also issued research reports about the company. Royal Bank Of Canada restated a “sector perform” rating on shares of Turquoise Hill Resources in a report on Tuesday, March 28th. TD Securities reaffirmed a “buy” rating and set a C$6.00 price target on shares of Turquoise Hill Resources in a research report on Wednesday, March 29th. Finally, CSFB assumed coverage on Turquoise Hill Resources in a research report on Thursday, April 13th. They set a “neutral” rating and a C$6.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of C$5.79.
Turquoise Hill Resources (TRQ) traded up 0.55% during midday trading on Thursday, reaching $3.63. The company had a trading volume of 459,607 shares. Turquoise Hill Resources has a 12-month low of $3.25 and a 12-month high of $5.03. The stock’s 50 day moving average is $3.46 and its 200 day moving average is $4.00. The firm has a market capitalization of $7.30 billion and a price-to-earnings ratio of 57.62.
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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).
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