CIBC Reiterates “Outperform” Rating for Turquoise Hill Resources Ltd (TRQ)

Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ)‘s stock had its “outperform” rating reaffirmed by equities research analysts at CIBC in a research note issued to investors on Friday. They currently have a C$5.00 target price on the stock. CIBC’s price objective indicates a potential upside of 32.98% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Scotiabank set a C$6.00 price objective on shares of Turquoise Hill Resources and gave the stock an “outperform” rating in a research note on Thursday, June 22nd. Royal Bank Of Canada reissued a “sector perform” rating and set a C$5.25 price objective on shares of Turquoise Hill Resources in a research note on Thursday, June 22nd. Finally, Eight Capital reissued a “buy” rating on shares of Turquoise Hill Resources in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Turquoise Hill Resources currently has a consensus rating of “Buy” and a consensus price target of C$5.79.

Shares of Turquoise Hill Resources (TSE TRQ) opened at 3.76 on Friday. Turquoise Hill Resources has a 52-week low of $3.25 and a 52-week high of $5.03. The stock has a 50 day moving average price of $3.99 and a 200-day moving average price of $3.82. The stock has a market capitalization of $7.57 billion and a price-to-earnings ratio of 62.67.

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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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