Turquoise Hill Resources Ltd (TSE:TRQ) (NYSE:TRQ) shares shot up 6.7% during mid-day trading on Friday . The stock traded as high as C$2.23 and last traded at C$2.23. 599,088 shares traded hands during trading, a decline of 36% from the average session volume of 937,000 shares. The stock had previously closed at C$2.09.
Several brokerages recently issued reports on TRQ. TD Securities cut their target price on shares of Turquoise Hill Resources from C$6.00 to C$5.50 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. Canaccord Genuity cut their target price on shares of Turquoise Hill Resources from C$6.75 to C$5.00 in a research note on Tuesday, January 8th. Finally, CIBC cut their target price on shares of Turquoise Hill Resources from C$5.10 to C$4.20 in a research note on Tuesday, November 6th.
The company has a debt-to-equity ratio of 50.20, a quick ratio of 2.78 and a current ratio of 5.17.
In other Turquoise Hill Resources news, Director Ulf Quellmann acquired 19,600 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were purchased at an average cost of C$2.47 per share, with a total value of C$48,412.00.
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About Turquoise Hill Resources (TSE:TRQ)
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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