The stock of Turquoise Hill Resources Ltd (TSE:TRQ) hit a new 52-week high and has $5.85 target or 24.00% above today’s $4.72 share price. The 7 months bullish chart indicates low risk for the $9.62 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $5.85 price target is reached, the company will be worth $2.31 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 476,722 shares traded hands. Turquoise Hill Resources Ltd (TSE:TRQ) has risen 38.48% since April 8, 2016 and is uptrending. It has outperformed by 33.50% the S&P500.
Turquoise Hill Resources Ltd (TSE:TRQ) Ratings Coverage
Out of 5 analysts covering Turquoise Hill Resources (TSE:TRQ), 1 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. $5.50 is the highest target while $4.50 is the lowest. The $5.13 average target is 8.69% above today’s ($4.72) stock price. Turquoise Hill Resources has been the topic of 8 analyst reports since November 9, 2015 according to StockzIntelligence Inc. TD Securities maintained the stock with “Buy” rating in Friday, November 4 report. Canaccord Genuity maintained Turquoise Hill Resources Ltd (TSE:TRQ) rating on Friday, August 19. Canaccord Genuity has “Hold” rating and $4.50 price target. Scotia Capital maintained the shares of TRQ in a report on Friday, October 21 with “Sector Perform” rating. The company was maintained on Thursday, October 20 by RBC Capital Markets. On Monday, October 24 the stock rating was maintained by TD Securities with “Buy”. The rating was upgraded by TD Securities to “Buy” on Friday, December 11.
Another recent and important Turquoise Hill Resources Ltd (TSE:TRQ) news was published by Streetinsider.com which published an article titled: “Turquoise Hill Resources Ltd (TRQ) Reports In-Line Q3 EPS” on November 03, 2016.
Turquoise Hill Resources Ltd. is an international mining company. The company has a market cap of $9.62 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 23.62 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.
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