Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $0.49, but opened at $0.48. Turquoise Hill Resources shares last traded at $0.47, with a volume of 164,142 shares trading hands.
A number of research analysts have recently commented on TRQ shares. Eight Capital cut Turquoise Hill Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 16th. TD Securities reissued a “speculative buy” rating and set a $2.25 price target (down from $4.00) on shares of Turquoise Hill Resources in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on Turquoise Hill Resources from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Wednesday, July 17th. ValuEngine downgraded Turquoise Hill Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, CIBC lowered Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $2.52.
The company’s 50 day moving average is $0.49 and its 200 day moving average is $1.18. The company has a market cap of $986.03 million, a PE ratio of 2.07 and a beta of 1.05. The company has a current ratio of 6.20, a quick ratio of 5.81 and a debt-to-equity ratio of 0.54.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $382.75 million during the quarter. Turquoise Hill Resources had a negative net margin of 13.64% and a positive return on equity of 5.04%.
Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Turquoise Hill Resources by 35.6% in the fourth quarter. Geode Capital Management LLC now owns 25,229 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 6,624 shares during the period. Toronto Dominion Bank grew its stake in Turquoise Hill Resources by 100.1% in the first quarter. Toronto Dominion Bank now owns 1,130,663 shares of the basic materials company’s stock worth $1,861,000 after purchasing an additional 565,659 shares in the last quarter. Alpine Woods Capital Investors LLC bought a new position in Turquoise Hill Resources in the first quarter worth approximately $50,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Turquoise Hill Resources during the 1st quarter worth $3,835,000. Finally, Great West Life Assurance Co. Can increased its holdings in Turquoise Hill Resources by 41.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 680,779 shares of the basic materials company’s stock worth $1,113,000 after purchasing an additional 198,720 shares during the period. 39.25% of the stock is owned by hedge funds and other institutional investors.
Turquoise Hill Resources Company Profile (NYSE:TRQ)
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, and silver deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd.
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