Turquoise Hill Resources Ltd. (NYSE:TRQ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQGet Rating) (TSE:TRQ) have received an average recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $27.58.

Several analysts have recently commented on TRQ shares. Canaccord Genuity Group raised their target price on Turquoise Hill Resources from C$43.00 to C$45.00 in a research note on Wednesday, May 11th. BMO Capital Markets upgraded Turquoise Hill Resources from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $20.00 to $34.00 in a research note on Tuesday, March 15th. StockNews.com initiated coverage on Turquoise Hill Resources in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Scotiabank upgraded Turquoise Hill Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 12th.

Shares of Turquoise Hill Resources stock opened at $27.73 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $28.27 and a two-hundred day moving average price of $23.23. Turquoise Hill Resources has a 1-year low of $9.75 and a 1-year high of $31.05. The company has a market cap of $5.58 billion, a P/E ratio of 9.90 and a beta of 1.81.

Turquoise Hill Resources (NYSE:TRQGet Rating) (TSE:TRQ) last issued its quarterly earnings results on Tuesday, May 10th. The basic materials company reported $1.37 earnings per share for the quarter. Turquoise Hill Resources had a return on equity of 6.18% and a net margin of 30.50%. The firm had revenue of $402.65 million during the quarter.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in shares of Turquoise Hill Resources by 55.2% during the 2nd quarter. Morgan Stanley now owns 87,053 shares of the basic materials company’s stock valued at $1,468,000 after purchasing an additional 30,961 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Turquoise Hill Resources by 81.2% during the 3rd quarter. Goldman Sachs Group Inc. now owns 227,729 shares of the basic materials company’s stock valued at $3,362,000 after purchasing an additional 102,031 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Turquoise Hill Resources by 30.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,866 shares of the basic materials company’s stock valued at $441,000 after purchasing an additional 7,022 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Turquoise Hill Resources by 40.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,350,116 shares of the basic materials company’s stock valued at $19,928,000 after purchasing an additional 390,028 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in shares of Turquoise Hill Resources during the 3rd quarter valued at $198,000. Institutional investors and hedge funds own 34.39% of the company’s stock.

About Turquoise Hill Resources (Get Rating)

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company primarily explores for copper, gold, and silver deposits. It engages in the operation and development of the Oyu Tolgoi copper-gold mine located in Southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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Analyst Recommendations for Turquoise Hill Resources (NYSE:TRQ)

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