Turquoise Hill Resources (NYSE:TRQ) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) posted its quarterly earnings data on Tuesday. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03, MarketWatch Earnings reports. The business had revenue of $277.97 million during the quarter. Turquoise Hill Resources had a net margin of 38.73% and a return on equity of 4.11%.
NYSE:TRQ traded down $0.04 during trading hours on Thursday, hitting $0.83. 1,376,860 shares of the company traded hands, compared to its average volume of 2,552,999. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 4.89 and a beta of 1.79. Turquoise Hill Resources has a twelve month low of $0.30 and a twelve month high of $0.97. The firm has a 50-day moving average of $0.77 and a 200 day moving average of $0.61. The company has a current ratio of 3.72, a quick ratio of 3.36 and a debt-to-equity ratio of 0.53.
Several research firms recently issued reports on TRQ. CIBC raised shares of Turquoise Hill Resources from a “neutral” rating to a “sector outperform” rating in a report on Monday, July 6th. TheStreet raised shares of Turquoise Hill Resources from a “d” rating to a “c” rating in a report on Tuesday. Finally, Canaccord Genuity upped their price objective on shares of Turquoise Hill Resources from $2.25 to $2.50 and gave the stock a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $1.78.
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.
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