Turquoise Hill Resources Ltd (TRQ) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.75.

TRQ has been the topic of several analyst reports. Royal Bank of Canada set a $4.00 price target on Turquoise Hill Resources and gave the company a “hold” rating in a report on Tuesday, October 10th. CIBC initiated coverage on shares of Turquoise Hill Resources in a research note on Friday, September 15th. They issued a “sector outperform” rating on the stock. Finally, Scotiabank restated a “buy” rating and issued a $5.50 price objective on shares of Turquoise Hill Resources in a research note on Monday, November 6th.

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Turquoise Hill Resources by 15.1% during the second quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock worth $129,000 after buying an additional 6,360 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Turquoise Hill Resources during the second quarter worth $155,000. Virtu KCG Holdings LLC boosted its stake in Turquoise Hill Resources by 25.0% during the second quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock worth $178,000 after buying an additional 13,416 shares in the last quarter. Korea Investment CORP acquired a new stake in Turquoise Hill Resources during the third quarter worth $215,000. Finally, Marshall Wace North America L.P. acquired a new stake in Turquoise Hill Resources during the second quarter worth $249,000. Institutional investors and hedge funds own 33.86% of the company’s stock.

Shares of Turquoise Hill Resources (NYSE:TRQ) traded up $0.03 during mid-day trading on Tuesday, reaching $3.33. The company’s stock had a trading volume of 1,291,900 shares, compared to its average volume of 3,572,729. Turquoise Hill Resources has a one year low of $2.44 and a one year high of $3.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 6.38 and a current ratio of 6.85. The firm has a market capitalization of $6,701.00, a P/E ratio of 30.28 and a beta of 0.30.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.03 EPS for the quarter. Turquoise Hill Resources had a return on equity of 2.81% and a net margin of 24.48%. The company had revenue of $246.90 million for the quarter, compared to the consensus estimate of $246.86 million. During the same quarter last year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year.

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Turquoise Hill Resources Company Profile

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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