Turquoise Hill Resources Ltd. (TRQ) Receives C$5.60 Average PT from Brokerages
Turquoise Hill Resources Ltd. (TSE:TRQ) (NYSE:TRQ) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$5.60.
A number of research firms recently commented on TRQ. CIBC reaffirmed an “outperform” rating and set a C$5.00 price target on shares of Turquoise Hill Resources in a research note on Friday, September 15th. Scotiabank reaffirmed an “outperform” rating and set a C$5.50 price target on shares of Turquoise Hill Resources in a research note on Monday, November 6th.
Turquoise Hill Resources (TRQ) traded up C$0.03 during mid-day trading on Wednesday, hitting C$4.23. 244,500 shares of the company were exchanged, compared to its average volume of 1,017,451. Turquoise Hill Resources has a 52-week low of C$3.25 and a 52-week high of C$4.92. The stock has a market cap of $8,440.00, a PE ratio of 30.21 and a beta of -0.13.
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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