(NYSE: TRQ – RECEIVE Rating) (TSE: TRQ) shares saw a jump in trading volume on Friday. During mid-day trading, 41,434 shares changed hands, a decline of 98% from the previous session’s volume of 1,887,817 shares. The stock last traded at $31.26 and previously closed at $30.98.
Analysts set new price targets
Several research firms have recently issued reports on TRQ. Scotiabank cut Turquoise Hill Resources from “Outperform” rating to “Sector Perform” rating in a research note on Thursday, October 13. StockNews.com began coverage on Turquoise Hill Resources in a research note on Wednesday, October 12. They set a “Hold” rating for the company. Canaccord Genuity Group lowered Turquoise Hill Resources from “Buy” rating to “Hold” rating in a research report on Thursday, October 13. In a report on Thursday, August 25 TD Securities raised their price target on Turquoise Hill Resources from C$34.00 to C$40.00. Finally, Canaccord Genuity Group downgraded Turquoise Hill Resources from a “buy” rating to a “hold” rating and raised its price target for the stock from C$42.00 to C$43.00 in a report on Thursday, October 13. Seven analysts have a hold rating on the stock and three have a buy rating on the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.29, according to Marketbeat data.
Turquoise Hill Resources stock up 1.1%
The company has a current ratio of 0.42, quick ratio of 0.45 and debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 11.22 and a beta of 1.38. The stock has a fifty-day moving average of $29.99 and a 200-day moving average of $28.04.
Institutional Inflows and Outflows
Several large investors have bought and sold shares of TRQ recently. National Bank of Canada FI increased its position in Turquoise Hill Resources by 1.6% in the third quarter. National Bank of Canada FI now holds 22,314 shares of the basic materials company valued at $660,000 after buying an additional 342 shares during the last quarter. Great West Life Assurance Company could increase its holding in shares of Turquoise Hill Resources to 3.9% during the first quarter. Great West Life Assurance Company can now own 10,342 shares of Basic Materials Company valued at $329,000 after acquiring an additional 389 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Turquoise Hill Resources valued at approximately $31,000 during the third quarter. First Trust Advisors LP raised its stake in shares of Turquoise Hill Resources by 1.2% during the third quarter. First Trust Advisors LP now holds 88,538 shares of the basic materials company valued at $2,610,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Turquoise Hill Resources by 3.8% during the second quarter. Van ECK Associates Corp now owns 36,016 shares of the basic materials company valued at $965,000, after acquiring an additional 1,304 shares in the last quarter. 34.39% of the stock is owned by institutional investors and hedge funds.
Turquoise Hill Resources Company Profile
Turquoise Hill Resources Limited, together with its subsidiaries, operates as a mining company. The company primarily explores for copper, gold and silver deposits. It is engaged in the operation and development of the Oyu Tolgoi Copper-Gold Mine located in southern Mongolia. The company was earlier known as Ivanhoe Mines Limited.
Receive news and ratings for Turquoise Hill Resource Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Turquoise Hill Resources and related companies with MarketBeat.com’s FREE daily email newsletter.