Will Turquoise Hill Resources Ltd Go Down Anytime Soon?
The stock of Turquoise Hill Resources Ltd (TSE:TRQ) is a huge mover today! The stock is up 4.69% or $0.13 after the news, hitting $2.9 per share. About 217,263 shares traded hands. Turquoise Hill Resources Ltd (TSE:TRQ) has declined 38.17% since July 10, 2015 and is downtrending. It has underperformed by 28.45% the S&P500.
The move comes after 5 months positive chart setup for the $6.02B company. It was reported on Feb, 17 by Barchart.com. We have $4.41 PT which if reached, will make TSE:TRQ worth $3.13 billion more.
Out of 2 analysts covering Turquoise Hill Resources (TSE:TRQ), 1 rate it “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Turquoise Hill Resources was the topic in 2 analyst reports since November 9, 2015 according to StockzIntelligence Inc.
Turquoise Hill Resources Ltd. is an international mining firm focused on mining activities in Mongolia. The company has a market cap of $6.02 billion. The Company’s principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia. It has 16.71 P/E ratio. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and 80 kilometers north of the Mongolia-China border.