Turquoise Hill Resources Ltd (TRQ) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $0.01 EPS for the quarter. Analysts had a consensus estimate of $0.01. The company posted revenue of $329.74 million in the period, compared to analysts expectations of $316.13 million. The company’s revenue was down -21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Many Wall Street Analysts have commented on Turquoise Hill Resources Ltd. RBC Capital Mkts Initiated Turquoise Hill Resources Ltd on Jul 18, 2016 to “Sector Perform”, Price Target of the shares are set at $4.
Turquoise Hill Resources Ltd opened for trading at $3.55 and hit $3.59 on the upside on Friday, eventually ending the session at $3.56, with a gain of 0.56% or 0.02 points. The heightened volatility saw the trading volume jump to 25,99,315 shares. Company has a market cap of $7,164 M.
Turquoise Hill Resources Ltd. (Turquoise Hill) 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. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar Mongolia’s 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).