Latest Stocks: Scotiabank Analysts Give Turquoise Hill Resources Ltd (TRQ) a C$6.00 Price Target

Latest Stocks: Scotiabank Analysts Give Turquoise Hill Resources Ltd (TRQ) a C$6.00 Price Target

Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) has been assigned a C$6.00 price target by analysts at Scotiabank in a research note issued on Wednesday, May 17th. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 78.04% from the company’s current price.

Several other analysts have also issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a C$5.50 price target on shares of Turquoise Hill Resources in a research report on Thursday, April 20th. TD Securities reaffirmed a “buy” rating and set a C$6.00 price objective on shares of Turquoise Hill Resources in a report on Wednesday, January 18th. Finally, CSFB began coverage on shares of Turquoise Hill Resources in a report on Thursday, April 13th. They set a “neutral” rating and a C$6.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$5.83.

Shares of Turquoise Hill Resources (TSE TRQ) opened at 3.37 on Wednesday. The stock’s 50 day moving average price is $3.64 and its 200-day moving average price is $4.24. Turquoise Hill Resources has a 52-week low of $3.29 and a 52-week high of $5.03. The firm has a market cap of $6.78 billion and a PE ratio of 53.49.

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