Turquoise Hill Resources Ltd. (TRQ) has been under a strong bear grip, hence the stock is down -1.03% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.07% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.01% in the last 1 week, and is up 2.3% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.48% and the 50-Day Moving Average is 10.07%. Turquoise Hill Resources Ltd. is up 19.46% in the last 3-month period. Year-to-Date the stock performance stands at 40.16%.
Turquoise Hill Resources Ltd. (NYSE:TRQ): stock turned positive on Friday. Though the stock opened at $3.55, the bulls momentum made the stock top out at $3.59 level for the day. The stock recorded a low of $3.52 and closed the trading day at $3.56, in the green by 0.56%. The total traded volume for the day was 2,599,315. The stock had closed at $3.54 in the previous days trading.
Also, RBC Capital initiates coverage on Turquoise Hill Resources Ltd. (NYSE:TRQ) . Analysts at the RBC Capital have a current rating of Sector Perform on the shares. The rating by the firm was issued on July 18, 2016.
Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company focused on mining operations in Mongolia. The Companys principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar, Mongolias capital city, and 80 kilometers north of the Mongolia-China border. The minerals on the property consist of porphyry-style copper, gold, silver and molybdenum contained in a linear structural trend (the Oyu Tolgoi Trend) that extends over 26 kilometers. Mineral resources include, from south to north, the Heruga Deposit, the Southern Oyu deposits (Southwest Oyu, South Oyu, Wedge and Central Oyu) and the Hugo Dummett deposits (Hugo South, Hugo North and Hugo North Extension).