Turquoise Hill Resources (TSE:TRQ) Share Price Crosses Above Two Hundred Day Moving Average of $0.72
Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.72 and traded as high as $0.75. Turquoise Hill Resources shares last traded at $0.73, with a volume of 457,440 shares changing hands.
A number of equities research analysts have issued reports on TRQ shares. CSFB cut their price objective on shares of Turquoise Hill Resources from C$1.60 to C$1.00 in a report on Tuesday, January 14th. CIBC raised shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$1.00 to C$1.60 in a report on Thursday, January 23rd. TD Securities increased their price objective on shares of Turquoise Hill Resources from C$2.00 to C$2.25 and gave the company a “speculative buy” rating in a report on Monday, January 20th. Finally, Credit Suisse Group cut their price objective on shares of Turquoise Hill Resources from C$1.60 to C$1.00 in a report on Tuesday, January 14th.
The business’s fifty day moving average is C$0.86 and its two-hundred day moving average is C$0.72. The company has a quick ratio of 2.86, a current ratio of 5.24 and a debt-to-equity ratio of 54.18. The stock has a market capitalization of $1.55 billion and a PE ratio of -9.01.
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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