Turquoise Hill Resources (NYSE:TRQ) PT Raised to $19.00

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) had its price target increased by equities researchers at BMO Capital Markets from $18.00 to $19.00 in a report issued on Monday, The Fly reports. The firm presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target indicates a potential upside of 3.94% from the company’s previous close.

Other analysts have also recently issued reports about the company. Canaccord Genuity raised Turquoise Hill Resources from a “sell” rating to a “hold” rating and upped their target price for the company from $14.00 to $22.50 in a research report on Monday. Scotiabank increased their price objective on Turquoise Hill Resources from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday. Macquarie upgraded shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Monday. Finally, TD Securities upped their price target on shares of Turquoise Hill Resources from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, March 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $21.21.

Shares of NYSE:TRQ traded down $0.49 during trading on Monday, hitting $18.28. 27,515 shares of the company were exchanged, compared to its average volume of 1,065,973. The firm’s 50 day moving average price is $16.03 and its 200-day moving average price is $11.79. Turquoise Hill Resources has a 12-month low of $4.40 and a 12-month high of $19.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.17 and a quick ratio of 2.81. The stock has a market capitalization of $3.68 billion, a P/E ratio of 9.46 and a beta of 2.12.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings data on Sunday, March 7th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.38. The company had revenue of $405.10 million during the quarter. Turquoise Hill Resources had a net margin of 42.70% and a return on equity of 4.76%.

A number of large investors have recently bought and sold shares of TRQ. LPL Financial LLC increased its stake in Turquoise Hill Resources by 30.1% in the 3rd quarter. LPL Financial LLC now owns 42,381 shares of the basic materials company’s stock valued at $36,000 after buying an additional 9,800 shares during the period. FIL Ltd purchased a new stake in shares of Turquoise Hill Resources in the fourth quarter valued at approximately $76,000. Citigroup Inc. grew its holdings in Turquoise Hill Resources by 189.7% during the fourth quarter. Citigroup Inc. now owns 7,881 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 5,161 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Turquoise Hill Resources during the fourth quarter worth $126,000. Finally, Paloma Partners Management Co acquired a new stake in Turquoise Hill Resources in the fourth quarter valued at $309,000.

About Turquoise Hill Resources

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

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