Canaccord Genuity Thinks Turquoise Hill Res’ Stock is Going to Recover


Yesterday, an analyst has provided a rating update for the Materials sector company, Turquoise Hill Res (TRQ). Analyst Dalton Baretto from Canaccord Genuity remains bullish on the stock and has a C$5 price target.

According to TipRanks.com, Baretto is a 4-star analyst with an average return of 3.0% and a 44.1% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Fortuna Silver Mines, and Hecla Mining Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Turquoise Hill Res with a C$4.85 average price target.

Turquoise Hill Res’ market cap is currently C$4.35B and has a P/E ratio of 8.5. The company has a Price to Book ratio of 0.36.

Turquoise Hill Resources Ltd. engages in the exploration and development of mineral properties. Its principal mineral resource property include Oyu Tolgoi copper-gold-silver project located in southern Mongolia. The company was founded by Robert Martin Friedland on January 25, 1994 and is headquartered in Vancouver, Canada.

The company’s shares closed on Monday at C$2.16, close to its 52-week low of C$1.94.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts