Turquoise Hill Resources Ltd. (NYSE:TRQ) traded at $10.39 at last check on Friday, Nov 20, making an upward move of 0.78% on its previous day’s price.
Looking at the stock we see that its previous close was $10.31 and the beta (5Y monthly) reads 1.96 with the day’s price range being $10.24 – 10.87. The company has a 12-month trailing PE ratio of 6.43. In terms of its 52-week price range, TRQ has a high of $12 and a low of $3.01. The company’s stock has gained about 31.22% over that past 30 days.
Turquoise has a market cap of $1.95 Billion and is expected to release its quarterly earnings report in Aug. With its Forward Dividend at 0 and a yield of 0%, the company’s investors could be worried for the TRQ stock to lose ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0, with the EPS growth for the year declined at $0.07 for 2020 and $0.05 for next year. These figures represent -0.3% and at -0.29% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $253.77 Million, with a low of $247Million and a high of $266.96 Million. The median projection represents growth adding up to 13% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $941.33 Million, or -21.8% down from figures reported last year.
On the other hand, looking at the outlook for the TRQ stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Let’s briefly compare Turquoise (TRQ) stock to its peers. We find that today’s price change of +0.78% and +126.61% over the past 12 months for TRQ competes that of Bhp Billiton Ltd (BHP), which has seen its stock price rise 1.17% in the latest trading session and is +6.72% over the last one year. Another of its peers Rio Tinto Plc (RIO) has climbed 0.67% today, and is +19.19% up over the past year, while Newmont Mining Corp (NEM) is also up 0.78% yet its price remains in the green at 126.61% over the same period. Bhp has a P/E ratio of 17.11 compared to Turquoise’s 6.43 and Rio’s 14.42. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -0.68% and -0.75%, respectively, in early deals.
Coming back to Turquoise Hill Resources Ltd. (NYSE:TRQ), we note that the average 3-month trading volume was 406.06 Million, while that of the preceding 10-day period stands at 476.66 Million. Current shares outstanding are 201.23 Million.
According to data from Thomson Reuters, insiders hold 53.33% of the company’s shares while institutions hold 36.34%. The data shows that short shares as of October 29, 2020, stood at 767.49 Million at a short ratio of 3.24. This represents a 0.38% Short interest in Shares outstanding on October 29, 2020. Shares short rose in October from the previous month at 1.62 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +41.13% up in year-to-date price movement.