Canaccord Genuity Analyst Reaffirmed $4.50 Price Target on Turquoise Hill Resources Ltd (TSE:TRQ) stock

Gold Price Increased After Morning Interbank Fixing In London

Turquoise Hill Resources Ltd (TSE:TRQ) Rating
Turquoise Hill Resources Ltd (TSE:TRQ) had its stock rating noted as Hold by analysts at Canaccord Genuity. Canaccord Genuity currently has a $4.50 target on the $8.54 billion market cap company or 9.49% upside potential. This was revealed to investors in analysts report on Friday morning.

Out of 2 analysts covering Turquoise Hill Resources (TSE:TRQ), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Turquoise Hill Resources has been the topic of 2 analyst reports since November 9, 2015 according to StockzIntelligence Inc. TD Securities upgraded the stock on December 11 to “Buy” rating.

The stock closed at $4.11 during the last session. It is down 56.27% since January 14, 2016 and is uptrending. It has outperformed by 42.48% the S&P500.

Analysts await Turquoise Hill Resources Ltd (NYSE:TRQ) to report earnings on November, 3.

Turquoise Hill Resources Ltd. is an international mining company. The company has a market cap of $8.54 billion. The Firm focuses on the operation and further development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is the Company’s principal material mineral resource property. It has a 17.38 P/E ratio. The Company’s Oyu Tolgoi mine is located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.

According to Zacks Investment Research, “Turquoise Hill Resources Ltd. is a mining company focused on copper, gold and coal mines in the Asia Pacific region. The company holds interest in Oyu Tolgoi, a copper-gold project located in the south Gobi region of Mongolia. It also holds interests in companies that mine coal in Mongolia, molybdenum and rhenium in Australia, and gold at the Kyzyl Gold Project in Kazakhstan. Turquoise Hill Resources Ltd., formerly known as Ivanhoe Mines Ltd., is based in Vancouver, Canada.”

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