Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) had its price target upped by analysts at BMO Capital Markets from $18.00 to $20.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a "market perform" rating on the basic materials company's stock. BMO Capital Markets' price objective points to a potential upside of 9.83% from the stock's previous close.
Other research analysts have also recently issued research reports about the stock. TD Securities lifted their target price on shares of Turquoise Hill Resources from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, March 10th. Scotiabank boosted their price target on shares of Turquoise Hill Resources from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, April 12th. Macquarie upgraded shares of Turquoise Hill Resources from a "neutral" rating to an "outperform" rating and set a $28.00 price target on the stock in a research note on Monday, April 12th. Finally, Canaccord Genuity upgraded shares of Turquoise Hill Resources from a "sell" rating to a "hold" rating and boosted their price target for the stock from $14.00 to $22.50 in a research note on Monday, April 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of "Buy" and a consensus price target of $21.36.
Shares of TRQ traded down $0.49 during trading hours on Tuesday, reaching $18.21. 13,389 shares of the stock traded hands, compared to its average volume of 1,076,095. The company has a current ratio of 3.17, a quick ratio of 2.81 and a debt-to-equity ratio of 0.51. Turquoise Hill Resources has a 52-week low of $4.40 and a 52-week high of $19.64. The company's 50-day moving average price is $16.67 and its two-hundred day moving average price is $12.32. The company has a market cap of $3.66 billion, a P/E ratio of 9.39 and a beta of 2.12.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its earnings results on Sunday, March 7th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.38. Turquoise Hill Resources had a net margin of 42.70% and a return on equity of 4.76%. The company had revenue of $405.10 million for the quarter.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc raised its position in shares of Turquoise Hill Resources by 33.7% during the 1st quarter. NEXT Financial Group Inc now owns 4,278 shares of the basic materials company's stock valued at $69,000 after buying an additional 1,078 shares in the last quarter. Citigroup Inc. raised its position in shares of Turquoise Hill Resources by 189.7% during the 4th quarter. Citigroup Inc. now owns 7,881 shares of the basic materials company's stock valued at $98,000 after buying an additional 5,161 shares in the last quarter. FIL Ltd purchased a new stake in shares of Turquoise Hill Resources during the 4th quarter valued at about $76,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Turquoise Hill Resources during the 4th quarter valued at about $126,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Turquoise Hill Resources during the 4th quarter valued at about $309,000.
About Turquoise Hill Resources
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, and silver deposits. It develops and operates the Oyu Tolgoi copper-gold mine located in Southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd.
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