Technicals Say Turquoise Hill Resources Ltd. (TRQ) Is A Hold

Turquoise Hill Resources Ltd. (NYSE:TRQ) finished Friday with a subtraction of -$0.03 to close at $13.42, a downside of -0.22 percent. An average of 794,980 shares of common stock have been traded in the last five days. There was a gain of $0.29 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 693,660 shares traded, while the 50-day average volume stands at 544,658.

TRQ stock has decreased by -8.08% in the last month. The company shares reached their 1-month lowest point of $11.92 on 10/15/21. With the stock rallying to its 52-week high on 05/10/21, shares of the company touched a low of $7.49 and a high of $21.89 in 52 weeks. It has reached a new high 18 times so far this year and achieved 8.05% or $1.00 in price. In spite of this, the price is down -38.69% from the 52-week high.

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Valuation Metrics

Turquoise Hill Resources Ltd. (TRQ) has a trailing price-to-earnings (P/E) ratio of 4.34, which compares with the 20.90 for the broader industry and 13.81 for the sector. In the last five years, Turquoise Hill Resources Ltd.’s PE ratio has ranged between 67.40 and 4.161. The stock’s beta is 2.11. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.10, the price-to-book (PB) ratio at 0.27.

The quick ratio of Turquoise Hill Resources Ltd. for the three months ended September 29 was 1.40, and the current ratio was 1.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.42 and a total debt to equity ratio of 0.42 for the quarter ending September 29. Turquoise Hill Resources Ltd.’s EBITDA margin for the year ending September 29 is 33.13%, while its operating margin for the same period stands at 41.60%. Its gross profit as reported stood at $408.8 million compared to revenue of $1.08 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Turquoise Hill Resources Ltd.’s return on assets was 4.60%. For the broader industry, ROE averaged -13.62 over the past year.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$150.46 million in the quarter, while revenues were grew 373.3%. The analyst consensus anticipated Turquoise Hill Resources Ltd.’s latest quarter earnings to come in at $0 per share, but it turned out to be $0.03. For the quarter, EBITDA amounted to $160.62 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Turquoise Hill Resources Ltd. (TRQ) price momentum. RSI 9-day as of the close on 22 October was 37.58%, suggesting the stock is Neutral, with historical volatility in this time frame at 85.89%.

As of today, TRQ’s price is $13.40 +2.21% or $0.29 from its 5-day moving average. TRQ is currently trading -8.15% lower than its 20-day SMA and -23.58% lower than its 100-day SMA. However, the stock’s current price level is -13.75% below the SMA50 and -7.32% below the SMA200.

The stochastic %K and %D were 41.72% and 40.43%, respectively, and the average true range (ATR) was 0.70. With the 14-day stochastic at 39.69% and the average true range at 0.68, the RSI (14) stands at 39.91%. The stock has reached -0.46 on the 9-day MACD Oscillator while the 14-day reading was at -0.68.

Analyst Ratings

TD Securities downgraded Turquoise Hill Resources Ltd. (NYSE: TRQ) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Speculative buy. The consensus rating for Turquoise Hill Resources Ltd. (TRQ) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell TRQ, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.

What is TRQ’s price target for the next 12 months?

Analysts predict a range of price targets between $11.33 and $20.21, with a median target of $14.16. Taking a look at these predictions, the average price target given by analysts for Turquoise Hill Resources Ltd. (TRQ) stock is $14.63.


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