Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) was down 2.3% during trading on Tuesday . The company traded as low as C$3.86 and last traded at C$3.87. Approximately 388,663 shares were traded during trading, a decline of 67% from the average daily volume of 1,174,320 shares. The stock had previously closed at C$3.96.
Several equities research analysts have recently issued reports on TRQ shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a C$5.25 target price on shares of Turquoise Hill Resources in a report on Thursday, June 22nd. Eight Capital reaffirmed a “buy” rating on shares of Turquoise Hill Resources in a report on Thursday, August 17th. Finally, Scotiabank set a C$6.00 target price on Turquoise Hill Resources and gave the stock an “outperform” rating in a report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Turquoise Hill Resources has a consensus rating of “Buy” and a consensus price target of C$5.95.
The company has a market cap of $7.79 billion and a P/E ratio of 64.50. The firm has a 50 day moving average of $4.00 and a 200 day moving average of $3.83.
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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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