Turquiose Hill Resources (NYSE:TRQ) Stock Upgrade
It will be interesting to watch today’s trading of shares of Turquiose Hill Resources (NYSE:TRQ) as TD Securities increased the stock from a Hold to a respectable Buy.
Approximately 1.38M shares of stock traded hands. Turquoise Hill Resources Ltd (NYSE:TRQ) has declined 42.09% since May 8, 2015 and is downtrending. It has underperformed by 39.07% the S&P500.
Turquoise Hill Resources Ltd. is an international mining firm focused on mining activities in Mongolia. The company has a market cap of $4.98 billion. The Company’s principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia. It has 20.33 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.
According to Zacks Investment Research, “Turquoise Hill Resources Ltd. is a mining company focused on copper, gold and coal mines in the Asia Pacific region. The company holds interest in Oyu Tolgoi, a copper-gold project located in the south Gobi region of Mongolia. It also holds interests in companies that mine coal in Mongolia, molybdenum and rhenium in Australia, and gold at the Kyzyl Gold Project in Kazakhstan. Turquoise Hill Resources Ltd., formerly known as Ivanhoe Mines Ltd., is based in Vancouver, Canada.” Get a free copy of the Zacks research report on Turquoise Hill Resources Ltd (TRQ).