Scotiabank Trims Turquoise Hill Resources (TSE:TRQ) Target Price to C$1.75

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) had its price target lowered by Scotiabank from C$2.00 to C$1.75 in a research report sent to investors on Tuesday, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on TRQ. CIBC upgraded Turquoise Hill Resources from a neutral rating to an outperform rating and increased their target price for the stock from C$1.00 to C$1.60 in a report on Thursday, January 23rd. CSFB cut their target price on Turquoise Hill Resources from C$1.60 to C$1.00 in a report on Tuesday, January 14th. Credit Suisse Group cut their target price on Turquoise Hill Resources from C$1.60 to C$1.00 in a report on Tuesday, January 14th. Finally, TD Securities increased their target price on Turquoise Hill Resources from C$2.00 to C$2.25 and gave the stock a speculative buy rating in a report on Monday, January 20th.

Shares of TRQ opened at C$0.57 on Tuesday. Turquoise Hill Resources has a 12-month low of C$0.43 and a 12-month high of C$2.36. The business’s fifty day moving average is C$0.71 and its 200 day moving average is C$0.72. The company has a quick ratio of 3.23, a current ratio of 4.74 and a debt-to-equity ratio of 53.13. The stock has a market cap of $1.09 billion and a P/E ratio of -7.60.

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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