Turquoise Hill Resources (TRQ) Given New C$5.30 Price Target at CIBC

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its price objective cut by CIBC from C$6.00 to C$5.30 in a research report report published on Friday morning.

Separately, Scotiabank set a C$5.00 target price on Turquoise Hill Resources and gave the stock an outperform rating in a report on Friday, March 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of C$5.51.

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Shares of Turquoise Hill Resources (TRQ) opened at C$4.14 on Friday. Turquoise Hill Resources has a 1-year low of C$3.25 and a 1-year high of C$4.52. The company has a market capitalization of $8,530.00, a price-to-earnings ratio of 29.57 and a beta of -0.30.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last released its earnings results on Thursday, March 15th. The company reported C$0.04 EPS for the quarter. Turquoise Hill Resources had a return on equity of 2.31% and a net margin of 13.48%. The business had revenue of C$319.68 million for the quarter.

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About Turquoise Hill Resources

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).

Analyst Recommendations for Turquoise Hill Resources (TSE:TRQ)

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