Turquoise Hill Resources Ltd. (TRQ) Receives Consensus Rating of “Hold” from Analysts

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the company. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.90.

Several brokerages have weighed in on TRQ. TD Securities reaffirmed a “buy” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research note on Sunday, November 6th. Canaccord Genuity raised shares of Turquoise Hill Resources from a “hold” rating to a “buy” rating in a research note on Monday, November 14th. Scotiabank reaffirmed a “sector perform” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research note on Tuesday, November 8th. Credit Suisse Group reaffirmed a “neutral” rating and set a $5.00 price objective (up from $4.75) on shares of Turquoise Hill Resources in a research note on Wednesday, October 26th. Finally, RBC Capital Markets reissued a “sector perform” rating on shares of Turquoise Hill Resources in a research note on Saturday, October 22nd.

Shares of Turquoise Hill Resources (NYSE:TRQ) opened at 3.56 on Monday. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 24.90 and a beta of 0.74. The stock’s 50 day moving average price is $3.45 and its 200-day moving average price is $3.24. Turquoise Hill Resources has a 12 month low of $1.91 and a 12 month high of $3.80.

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A number of institutional investors have recently made changes to their positions in the stock. IndexIQ Advisors LLC boosted its position in shares of Turquoise Hill Resources by 55.0% in the third quarter. IndexIQ Advisors LLC now owns 614,722 shares of the company’s stock worth $1,826,000 after buying an additional 218,022 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Turquoise Hill Resources by 94.5% in the third quarter. Toronto Dominion Bank now owns 1,323,349 shares of the company’s stock worth $3,915,000 after buying an additional 642,970 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Turquoise Hill Resources by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,158,511 shares of the company’s stock worth $3,441,000 after buying an additional 2,928 shares during the last quarter. NEXT Financial Group Inc boosted its position in shares of Turquoise Hill Resources by 3,850.0% in the third quarter. NEXT Financial Group Inc now owns 39,500 shares of the company’s stock worth $117,000 after buying an additional 38,500 shares during the last quarter. Finally, Kopernik Global Investors LLC boosted its position in shares of Turquoise Hill Resources by 13.9% in the third quarter. Kopernik Global Investors LLC now owns 11,149,464 shares of the company’s stock worth $33,115,000 after buying an additional 1,360,761 shares during the last quarter. 30.56% of the stock is currently owned by hedge funds and other institutional investors.

Turquoise Hill Resources Company Profile

Turquoise Hill Resources Ltd. (Turquoise Hill) 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 located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.

5 Day Chart for NYSE:TRQ

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