Now Is A Suitable Moment For A Long-Term Purchase Of Turquoise Hill Resources Ltd. (NYSE: TRQ)


    With over 2.46 million Turquoise Hill Resources Ltd. (TRQ) shares trading Friday and a closing price of $0.94 on the day, the dollar volume was approximately $2.31 million. The shares have shown a positive weekly performance of 8.94% and its price on 08/21/20 lost nearly -1.27%. Currently, there are 2.01B common shares owned by the public and among those 939.01M shares have been available to trade.

    The analysts have set the share’s price value over the next 12 months at a high of $1.87 and a low of $0.61 should the stock experience a downside. Incidentally, analysts’ outlook for the Turquoise Hill Resources Ltd. stock is 3.00 for the next 12 months. But an upside of 49.73% will see the stock hit the forecast high price target while mean target price for the stock is $1.22.

    The top 3 mutual fund holders in Turquoise Hill Resources Ltd. are Heptagon Fund Plc – Kopernik Glob, Victory Global Natural Resources, and American Funds New World Fund. Heptagon Fund Plc – Kopernik Glob owns 30.06 million shares of the company’s stock, all valued at over $24.92 million. Victory Global Natural Resources sold -5.56 million shares to see its total holdings shrink to 28.29 million shares valued at over $23.45 million and representing 1.41% of the shares outstanding. American Funds New World Fund bought 12.58 million shares to bring its total holdings to over 26.55 million shares at a value of $22.01 million. American Funds New World Fund now owns shares totaling to 1.32% of the shares outstanding.

    Shares of Turquoise Hill Resources Ltd. (NYSE: TRQ) opened at $0.9798, up $0.03 from a prior closing price of $0.95. However, the script later closed the day at $0.94, down -1.27%. The company’s stock has a 5-day price change of 8.94% and 42.24% over the past three months. TRQ shares are trading 27.30% year to date (YTD), with the 12-month market performance up to 87.07% higher. It has a 12-month low price of $0.30 and touched a high of $0.97 over the same period. Currently, 2.46 million shares have been traded, compared to an average intraday trading volume of 2.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.87%, 15.77%, and 50.27% respectively.

    Institutional ownership of Turquoise Hill Resources Ltd. (NYSE: TRQ) shares accounts for 38.50% of the company’s 2.01B shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

    It has a market capitalization of $1.92B and a beta (3y monthly) value of 1.86. The stock’s trailing 12-month PE ratio is 5.79, while the earnings-per-share (ttm) stands at $0.16. The company has a PEG of 2.89 and a Quick Ratio of 3.30 with the debt-to-equity ratio at 0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.52% over the week and 4.61% over the month.

    Analysts forecast that Turquoise Hill Resources Ltd. (TRQ) will achieve an EPS of $0 for the current quarter, $0.01 for the next quarter and $0.05 for 2018. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -136.60%, and 90.57% over the next financial year. EPS should grow at an annualized rate of 2.00% over the next five years, compared to -19.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Turquoise Hill Resources Ltd. (TRQ) as a “Hold” at a consensus score of 3.00. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the TRQ, a number of firms have released research notes about the stock. CIBC stated their Sector Outperform rating for the stock in a research note on July 06, 2020, with the firm’s price target at. CIBC coverage for the Turquoise Hill Resources Ltd. (TRQ) stock in a research note released on April 01, 2020 offered a Neutral rating with a price target of. CIBC was of a view on January 23, 2020 that the stock is Sector Outperform, while CIBC gave the stock Sector Outperform rating on September 15, 2017, issuing a price target of. RBC Capital Mkts on their part issued Sector Perform rating on July 18, 2016.


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