Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) gapped down before the market opened on Tuesday . The stock had previously closed at $0.66, but opened at $0.62. Turquoise Hill Resources shares last traded at $0.61, with a volume of 5,845,000 shares trading hands.
Several equities analysts have recently weighed in on the company. CIBC raised Turquoise Hill Resources from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $1.00 to $1.60 in a report on Wednesday, January 22nd. TD Securities increased their price target on Turquoise Hill Resources from $1.60 to $2.00 and gave the company a “speculative buy” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $1.87.
The firm has a fifty day moving average price of $0.67 and a two-hundred day moving average price of $0.54. The stock has a market capitalization of $1.24 billion, a P/E ratio of -8.71 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.91 and a current ratio of 5.24.
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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