Turquoise Hill Resources Ltd (NYSE:TRQ) shares traded down 5.4% during mid-day trading on Tuesday , Market Beat.com reports. The stock traded as low as $2.10 and last traded at $2.11, with a volume of 1,285,375 shares. The stock had previously closed at $2.23.
Several research analysts have issued reports on the stock. Macquarie raised shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a report on Monday, November 9th. Zacks Investment Research cut shares of Turquoise Hill Resources from a “hold” rating to a “sell” rating in a report on Monday, November 9th. Finally, TD Securities raised shares of Turquoise Hill Resources from a “hold” rating to a “buy” rating in a report on Friday, December 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.67.
The company’s 50 day moving average price is $2.00 and its 200 day moving average price is $2.60. The firm has a market capitalization of $4.25 billion and a price-to-earnings ratio of 15.07.
Other hedge funds and institutional investors have bought and sold shares of the company. Russell Frank Co increased its position in Turquoise Hill Resources by 0.5% in the fourth quarter. Russell Frank Co now owns 2,934,815 shares of the company’s stock worth $7,426,000 after buying an additional 13,868 shares during the period. Hexavest Inc. boosted its stake in Turquoise Hill Resources by 48.3% in the fourth quarter. Hexavest Inc. now owns 1,141,740 shares of the company’s stock worth $2,885,000 after buying an additional 371,966 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in Turquoise Hill Resources during the fourth quarter worth $1,270,000. Korea Investment CORP boosted its stake in Turquoise Hill Resources by 369.3% in the fourth quarter. Korea Investment CORP now owns 681,900 shares of the company’s stock worth $1,723,000 after buying an additional 536,600 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Turquoise Hill Resources by 2,318.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 639,958 shares of the company’s stock worth $1,625,000 after buying an additional 613,492 shares in the last quarter.
Turquoise Hill Resources Ltd. (NYSE:TRQ) is an international mining company focused on mining operations in Mongolia. The Company’s principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia.
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