Turquoise Hill Resources Ltd (TRQ) Lowered to Hold at ValuEngine

Turquoise Hill Resources Ltd (TRQ) Lowered to Hold at ValuEngine

Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other analysts have also issued reports on TRQ. Royal Bank of Canada reaffirmed a “hold” rating and set a $4.00 price target on shares of Turquoise Hill Resources in a research report on Thursday, May 25th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Turquoise Hill Resources in a research report on Tuesday, April 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Turquoise Hill Resources presently has a consensus rating of “Hold” and an average target price of $4.90.

Shares of Turquoise Hill Resources (NYSE TRQ) traded down 1.56% on Friday, reaching $2.52. The company had a trading volume of 2,564,079 shares. The company has a 50 day moving average of $2.71 and a 200-day moving average of $3.19. Turquoise Hill Resources has a 52 week low of $2.51 and a 52 week high of $3.80. The company has a market capitalization of $5.07 billion, a P/E ratio of 40.00 and a beta of 0.74.

Turquoise Hill Resources (NYSE:TRQ) last announced its earnings results on Monday, May 15th. The basic materials company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Turquoise Hill Resources had a net margin of 21.61% and a return on equity of 3.78%. The business had revenue of $237.50 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was down 43.8% on a year-over-year basis.

A number of hedge funds have recently bought and sold shares of TRQ. Boothbay Fund Management LLC purchased a new stake in Turquoise Hill Resources during the fourth quarter valued at about $135,000. Highbridge Capital Management LLC purchased a new stake in Turquoise Hill Resources during the fourth quarter valued at about $150,000. Commerzbank Aktiengesellschaft FI raised its stake in Turquoise Hill Resources by 5.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 49,958 shares of the basic materials company’s stock valued at $161,000 after buying an additional 2,798 shares during the period. Scotia Capital Inc. raised its stake in Turquoise Hill Resources by 300.5% in the fourth quarter. Scotia Capital Inc. now owns 53,462 shares of the basic materials company’s stock valued at $171,000 after buying an additional 40,112 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Turquoise Hill Resources during the first quarter valued at about $163,000. 30.50% of the stock is currently owned by hedge funds and other institutional investors.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TRQ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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