TD Securities Cuts Turquoise Hill Resources (TRQ) Price Target to C$5.50

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its target price decreased by equities research analysts at TD Securities from C$6.00 to C$5.50 in a report issued on Wednesday. The firm presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 124.49% from the company’s current price.

A number of other research analysts have also weighed in on the stock. CIBC decreased their target price on shares of Turquoise Hill Resources from C$5.30 to C$5.10 in a research note on Friday, August 31st. CSFB reissued a “neutral” rating and issued a C$5.00 target price on shares of Turquoise Hill Resources in a research note on Monday, September 10th.

Turquoise Hill Resources stock traded down C$0.07 during midday trading on Wednesday, reaching C$2.45. The company had a trading volume of 598,973 shares, compared to its average volume of 1,030,262. Turquoise Hill Resources has a 12-month low of C$2.28 and a 12-month high of C$4.52.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last issued its quarterly earnings results on Tuesday, July 31st. The company reported C$0.12 earnings per share for the quarter. The firm had revenue of C$441.06 million for the quarter. Turquoise Hill Resources had a net margin of 13.48% and a return on equity of 2.31%.

In other Turquoise Hill Resources news, Director Robert Peter Charles Gillin bought 10,000 shares of the firm’s stock in a transaction on Friday, September 7th. The shares were acquired at an average cost of C$2.89 per share, with a total value of C$28,900.00.

Turquoise Hill Resources Company Profile

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

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