Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its price objective lowered by investment analysts at TD Securities from C$2.00 to C$1.75 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. TD Securities’ price objective points to a potential upside of 191.67% from the stock’s current price.
Separately, CIBC lowered their target price on Turquoise Hill Resources from C$1.20 to C$1.00 in a report on Friday, September 6th.
Shares of TRQ stock traded up C$0.01 during mid-day trading on Thursday, hitting C$0.60. The stock had a trading volume of 153,034 shares, compared to its average volume of 1,906,905. Turquoise Hill Resources has a 12-month low of C$0.53 and a 12-month high of C$2.84. The firm has a market capitalization of $1.23 billion and a P/E ratio of -6.67. The firm’s 50-day moving average is C$0.60 and its two-hundred day moving average is C$1.06. The company has a debt-to-equity ratio of 54.14, a current ratio of 6.20 and a quick ratio of 3.11.
About Turquoise Hill Resources
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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