Turquoise Hill Resources Ltd. (TRQ) Given Average Rating of “Buy” by Brokerages

Turquoise Hill Resources Ltd. (TSE:TRQ) (NYSE:TRQ) has received an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$5.71.

A number of analysts have recently weighed in on the company. Scotiabank reiterated an “outperform” rating and set a C$5.50 target price on shares of Turquoise Hill Resources in a research report on Monday, November 6th. CIBC reiterated an “outperform” rating and set a C$5.00 target price on shares of Turquoise Hill Resources in a research report on Friday, September 15th. Finally, Eight Capital reiterated a “buy” rating on shares of Turquoise Hill Resources in a research report on Thursday, August 17th.

Shares of Turquoise Hill Resources (TSE:TRQ) opened at C$3.90 on Friday. Turquoise Hill Resources has a 1 year low of C$3.25 and a 1 year high of C$4.94.

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About Turquoise Hill Resources

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).

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