Turquoise Hill Resources Ltd. (TSE:TRQ) (NYSE:TRQ)‘s stock had its “outperform” rating reaffirmed by stock analysts at Scotiabank in a report issued on Monday, November 6th. They presently have a C$5.50 price objective on the stock. Scotiabank’s price target would suggest a potential upside of 41.03% from the company’s previous close.
A number of other equities research analysts also recently weighed in on TRQ. Eight Capital restated a “buy” rating on shares of Turquoise Hill Resources in a research note on Thursday, August 17th. CIBC restated an “outperform” rating and issued a C$5.00 price target on shares of Turquoise Hill Resources in a research note on Friday, September 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Turquoise Hill Resources has a consensus rating of “Buy” and an average target price of C$5.71.
Shares of Turquoise Hill Resources (TSE:TRQ) traded down C$0.01 during trading on Monday, reaching C$3.90. 310,200 shares of the company’s stock were exchanged, compared to its average volume of 1,052,574. Turquoise Hill Resources has a 12-month low of C$3.25 and a 12-month high of C$4.94.
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).
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