Turquoise Hill Resources Ltd. (TRQ) has been rated by 2 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $4 and the lowest price target forecast is $2. The average forecast of all the analysts is $2.95 and the expected standard deviation is $1.34.
Also, Canaccord Genuity initiates coverage on Turquoise Hill Resources Ltd. (NYSE:TRQ). The rating major has initiated the coverage with hold rating on the shares. The rating by the firm was issued on August 17, 2016.
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 $3.08 and $3.05 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.12. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.09, notching a gain of 0.32% for the day. The total traded volume was 2,662,174 . The stock had closed at $3.08 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).