TD Securities Downgrades Turquoise Hill Resources (TSE:TRQ) to Speculative Buy

TD Securities lowered shares of Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) from a buy rating to a speculative buy rating in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have C$2.25 price target on the stock, down from their prior price target of C$4.00.

Other analysts have also recently issued reports about the company. Canaccord Genuity dropped their price target on Turquoise Hill Resources from C$4.50 to C$2.25 in a report on Tuesday, July 16th. Eight Capital cut Turquoise Hill Resources from a buy rating to a neutral rating and dropped their price target for the stock from C$4.50 to C$3.00 in a report on Tuesday, July 16th.

Shares of TSE TRQ opened at C$0.83 on Wednesday. The company has a debt-to-equity ratio of 49.44, a current ratio of 6.32 and a quick ratio of 2.98. Turquoise Hill Resources has a 12 month low of C$0.76 and a 12 month high of C$3.82. The business’s 50 day simple moving average is C$1.52. The company has a market cap of $1.67 billion and a P/E ratio of 3.82.

Turquoise Hill Resources (TSE:TRQ) (NYSE:TRQ) last issued its earnings results on Wednesday, May 15th. The company reported C$0.08 EPS for the quarter. The business had revenue of C$468.91 million for the quarter. On average, equities analysts predict that Turquoise Hill Resources will post 0.08 EPS for the current fiscal year.

About Turquoise Hill Resources

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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