Price Target Update on Turquoise Hill Resources Ltd. (NYSE:TRQ)

Turquoise Hill Resources Ltd. (NYSE:TRQ) : The most positive equity analysts on Turquoise Hill Resources Ltd. (NYSE:TRQ) expects the shares to touch $4, whereas, the least positive believes that the stock will trade at $2 in the short term. The company is covered by 2 Wall Street Brokerage Firms. The average price target for shares are $2.95 with an expected fluctuation of $1.34 from the mean.

Other Equity analysts have also commented on the company shares. Macquarie upgrades its rating on Turquoise Hill Resources Ltd. (NYSE:TRQ). Analysts at the Macquarie have a current rating of Outperform on the shares. The rating by the firm was issued on November 9, 2015.

Turquoise Hill Resources Ltd. (NYSE:TRQ): stock turned positive on Thursday. Though the stock opened at $3.38, the bulls momentum made the stock top out at $3.49 level for the day. The stock recorded a low of $3.37 and closed the trading day at $3.42, in the green by 2.09%. The total traded volume for the day was 2,451,408. The stock had closed at $3.35 in the previous days trading.

The company shares have dropped -14.32% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $3.97 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $2.94 and the 200 Day Moving Average price is recorded at $2.54.

Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company focused on mining operations in Mongolia. The Companys principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar, Mongolias capital city, and 80 kilometers north of the Mongolia-China border. The minerals on the property consist of porphyry-style copper, gold, silver and molybdenum contained in a linear structural trend (the Oyu Tolgoi Trend) that extends over 26 kilometers. Mineral resources include, from south to north, the Heruga Deposit, the Southern Oyu deposits (Southwest Oyu, South Oyu, Wedge and Central Oyu) and the Hugo Dummett deposits (Hugo South, Hugo North and Hugo North Extension).

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.