Investment analysts at CIBC cut their price target on shares of Turquoise Hill Resources Ltd (TSE:TRQ) from C$5.50 to C$4.85 in a note issued to investors on Wednesday, Analyst Ratings.Net reports. The firm currently has an “underperform” rating on the stock. CIBC’s price objective indicates a potential upside of 8.50% from the company’s current price.
Shares of Turquoise Hill Resources Ltd (TSE:TRQ) traded up 2.24% on Wednesday, hitting $4.57. 373,789 shares of the company’s stock traded hands. Turquoise Hill Resources Ltd has a 52 week low of $3.94 and a 52 week high of $9.48. The stock has a 50-day moving average of $4.67 and a 200-day moving average of $5.46.
Several other analysts have also recently commented on the stock. Analysts at TD Securities cut their price target on shares of Turquoise Hill Resources Ltd from C$4.25 to C$4.00 in a research note to investors on Friday, November 15th. They now have a “reduce” rating on the stock. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$5.27.
Turquoise Hill Resources Ltd., formerly Ivanhoe Mines Ltd., is an international mineral exploration and development company.
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