Short Term Price Target on Turquoise Hill Resources Ltd. (TRQ)

Turquoise Hill Resources Ltd. (NYSE:TRQ) : 2 investment research analysts covering Turquoise Hill Resources Ltd. (NYSE:TRQ) have an average price target of $2.95 for the near short term. The highest target price given by the Brokerage Firm to the stock is $4 and the lowest target is $2 for the short term. Analysts expect the variance to be within $1.34 of the average price.

Turquoise Hill Resources Ltd. has dropped 1.17% in the last five trading days, however, the shares have posted positive gains of 19.01% in the last 4 weeks. Turquoise Hill Resources Ltd. is up 29.01% in the last 3-month period. Year-to-Date the stock performance stands at 33.07%.

Turquoise Hill Resources Ltd. (NYSE:TRQ): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.33 and $3.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.38, notching a gain of 2.74% for the day. The total traded volume was 3,509,581 . The stock had closed at $3.29 on the previous day.

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).

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