Turquoise Hill Resources Downgraded to “Sell” at Zacks (TRQ

Turquoise Hill Resources (NYSE:TRQ) was downgraded by Zacks from a “hold” rating to a “sell” rating in a research note issued to investors on Monday,Market Beat Ratings reports.
According to Zacks, “Turquoise Hill Resources Ltd. is a mining company focused on copper, gold and coal mines in the Asia Pacific region. The company holds interest in Oyu Tolgoi, a copper-gold project located in the south Gobi region of Mongolia. It also holds interests in companies that mine coal in Mongolia, molybdenum and rhenium in Australia, and gold at the Kyzyl Gold Project in Kazakhstan. Turquoise Hill Resources Ltd., formerly known as Ivanhoe Mines Ltd., is based in Vancouver, Canada. “
Several other research analysts have also recently issued reports on the company. Scotiabank dropped their price target on Turquoise Hill Resources from $5.75 to $5.00 in a research report on Tuesday, September 29th. TheStreet cut Turquoise Hill Resources from a “hold” rating to an “e+” rating in a research report on Friday, August 7th. Finally, Macquarie raised Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Turquoise Hill Resources presently has an average rating of “Hold” and an average target price of $5.67.
Shares of Turquoise Hill Resources (NYSE:TRQ) traded down 1.39% during mid-day trading on Monday, reaching $2.83. 1,417,633 shares of the company’s stock traded hands. The firm’s 50-day moving average is $2.84 and its 200 day moving average is $3.47. Turquoise Hill Resources has a one year low of $2.41 and a one year high of $4.74. The firm has a market cap of $5.69 billion and a price-to-earnings ratio of 34.10.
Turquoise Hill Resources (NYSE:TRQ) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. During the same period last year, the firm earned ($0.05) EPS. The business earned $431.70 million during the quarter, compared to analysts’ expectations of $522.85 million. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. Analysts predict that Turquoise Hill Resources will post $0.12 earnings per share for the current year.
Turquoise Hill Resources Ltd. (NYSE:TRQ) is an international mining company focused on mining businesses in Mongolia. The Company’s principal and only material mineral -gold mine. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and 80 kilometers north of the Mongolia-China border. The minerals on the property consist of porphyry-style copper, gold, silver and molybdenum contained in a linear trend that is structural (the Oyu Tolgoi Tendency) that extends over 26 kilometers. Mineral resources contain, from south to north, the Heruga Deposit, the Southern Oyu deposits (Wedge, South Oyu, Southwest Oyu and Central Oyu) and the Hugo Dummett deposits (Hugo South, Hugo North and Hugo North Extension).
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