CIBC Increases Turquoise Hill Resources (TRQ) Price Target to C$6.00

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its price objective raised by equities researchers at CIBC from C$5.00 to C$6.00 in a report released on Monday. CIBC’s price objective indicates a potential upside of 43.20% from the stock’s previous close.

Separately, Scotiabank restated an “outperform” rating and issued a C$5.50 target price on shares of Turquoise Hill Resources in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of C$5.80.

Shares of Turquoise Hill Resources (TRQ) traded up C$0.16 during midday trading on Monday, reaching C$4.19. The company’s stock had a trading volume of 896,541 shares, compared to its average volume of 585,377. The company has a market cap of $8,430.00, a price-to-earnings ratio of 29.93 and a beta of -0.14. Turquoise Hill Resources has a fifty-two week low of C$3.25 and a fifty-two week high of C$4.92.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last announced its earnings results on Thursday, November 2nd. The company reported C$0.04 earnings per share for the quarter. Turquoise Hill Resources had a return on equity of 2.97% and a net margin of 19.31%.

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Turquoise Hill Resources Company Profile

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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