Turquoise Hill Resources (NYSE:TRQ) Shares Pass Above 200-Day Moving Average of $1.33

Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.33 and traded as high as $0.48. Turquoise Hill Resources shares last traded at $0.46, with a volume of 104,481 shares traded.

A number of research firms recently weighed in on TRQ. TheStreet lowered shares of Turquoise Hill Resources from a “c-” rating to a “d” rating in a research note on Friday, August 2nd. ValuEngine lowered shares of Turquoise Hill Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Eight Capital lowered shares of Turquoise Hill Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 16th. Royal Bank of Canada dropped their price target on shares of Turquoise Hill Resources from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 17th. Finally, TD Securities reiterated a “speculative buy” rating and issued a $2.25 price target (down from $4.00) on shares of Turquoise Hill Resources in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $2.52.

The firm has a market capitalization of $943.17 million, a price-to-earnings ratio of 2.13 and a beta of 0.97. The company has a fifty day moving average price of $0.77 and a two-hundred day moving average price of $1.33. The company has a quick ratio of 5.81, a current ratio of 6.20 and a debt-to-equity ratio of 0.54.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Turquoise Hill Resources during the fourth quarter worth $12,865,000. Marshall Wace LLP acquired a new stake in Turquoise Hill Resources in the first quarter valued at $6,769,000. BlackRock Inc. lifted its holdings in Turquoise Hill Resources by 5.4% in the fourth quarter. BlackRock Inc. now owns 518,289 shares of the basic materials company’s stock valued at $855,000 after acquiring an additional 26,476 shares during the period. Quadrant Capital Group LLC lifted its holdings in Turquoise Hill Resources by 76.2% in the first quarter. Quadrant Capital Group LLC now owns 61,183 shares of the basic materials company’s stock valued at $99,000 after acquiring an additional 26,453 shares during the period. Finally, Stifel Financial Corp acquired a new stake in Turquoise Hill Resources in the fourth quarter valued at $30,000. 38.78% of the stock is owned by hedge funds and other institutional investors.

About Turquoise Hill Resources (NYSE:TRQ)

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

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