Turquoise Hill Res (TRQ), the Materials sector company, has received a rating update from a Wall Street analyst today. The company received a Buy rating from CIBC’s analyst Oscar Cabrera, with a C$4.20 price target.
According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -17.0% and a 22.9% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Capstone Mining Corp, and Hudbay Minerals Inc.
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Turquoise Hill Res has an analyst consensus of Moderate Buy, with a price target consensus of C$4.90.
Based on Turquoise Hill Res’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$69.49 million. In comparison, last year the company had a net profit of C$81.9 million.
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 Tuesday at C$2.42, close to its 52-week low of C$2.09.
