Turquoise Hill Resources Ltd (TSE:TRQ) Rating Reiterated by CIBC

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.

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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).

Analyst Recommendations for Turquoise Hill Resources (TSE:TRQ)

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