Turquoise Hill Res (TRQ) has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from CIBC’s analyst Oscar Cabrera, with a C$4 price target.
According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -13.5% and a 34.2% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Capstone Mining Corp, and Hudbay Minerals Inc.
Currently, the analyst consensus on Turquoise Hill Res is a Moderate Buy with an average price target of C$4.50, representing a 105.5% upside. In a report issued on January 7, Canaccord Genuity also reiterated a Buy rating on the stock with a C$5 price target.
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The company has a one-year high of C$4.37 and a one-year low of C$1.94. Currently, Turquoise Hill Res has an average volume of 1.12M.
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$2.19, close to its 52-week low of C$1.94.
