Turquoise Hill Resources Ltd. (TSE:TRQ – Get Rating) (NYSE:TRQ) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.42 and traded as high as C$33.17. Turquoise Hill Resources shares last traded at C$32.49, with a volume of 211,263 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Eight Capital lifted their target price on Turquoise Hill Resources from C$43.00 to C$48.00 and gave the company a “buy” rating in a research report on Friday, May 13th. Scotiabank dropped their target price on Turquoise Hill Resources from C$44.00 to C$42.00 in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$37.67.
Turquoise Hill Resources Stock Down 1.1 %
The firm has a 50 day moving average price of C$34.47 and a 200-day moving average price of C$32.42. The company has a current ratio of 1.09, a quick ratio of 0.65 and a debt-to-equity ratio of 43.66. The firm has a market cap of C$6.54 billion and a PE ratio of 8.83.
About Turquoise Hill Resources
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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