Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ)‘s stock had its “outperform” rating reiterated by investment analysts at CIBC in a research note issued on Friday, September 15th. They currently have a C$5.00 price target on the stock. CIBC’s price objective indicates a potential upside of 25.00% from the company’s current price.
Several other equities research analysts have also weighed in on the company. Scotiabank set a C$6.00 target price on Turquoise Hill Resources and gave the stock an “outperform” rating 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, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$5.25 target price on shares of Turquoise Hill Resources in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Turquoise Hill Resources has an average rating of “Buy” and a consensus price target of C$5.79.
Turquoise Hill Resources (TSE TRQ) traded up 3.63% during mid-day trading on Friday, reaching $4.00. The company had a trading volume of 528,594 shares. The firm’s 50 day moving average price is $3.93 and its 200-day moving average price is $3.78. Turquoise Hill Resources has a 12 month low of $3.25 and a 12 month high of $5.03. The company has a market capitalization of $8.05 billion and a price-to-earnings ratio of 66.67.
Turquoise Hill Resources Company Profile
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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