Turquoise Hill upgraded to Hold from Sell at Canaccord » 06:5304/1204/12/21
Canaccord analyst Dalton…
Story temporarily locked.
Turquoise Hill upgraded to Outperform from Neutral at Macquarie » 05:2504/1204/12/21
Macquarie analyst Hayden…
Story temporarily locked.
Turquoise Hill rises 6.0% » 10:0004/0904/09/21
Turquoise Hill is up…
Turquoise Hill is up 6.0%, or $1.08 to $19.07.
|Over a week ago|
Turquoise Hill: Oyu Tolgoi declares force majeure » 08:1103/3003/30/21
Turquoise Hill Resources…
Turquoise Hill Resources announced that Oyu Tolgoi has declared force majeure in connection with customer contracts for concentrate as a result of Oyu Tolgoi shipments of concentrate to its Chinese customers being suspended due to COVID-19 health and safety precautions related to Chinese-Mongolian border crossings. Oyu Tolgoi continues to support the Government of Mongolia's efforts to work with Chinese officials to resume the shipments of copper concentrate to its Chinese customers as soon as possible. Also, Oyu Tolgoi confirmed two cases of COVID-19 at site which were managed in compliance with public health guidelines and have completed a total of 9,726 PCR tests at site that have all been confirmed negative. The open pit mine, concentrator plant and bagging plant have continued to operate uninterrupted, however, underground work was halted while testing was underway to ensure the safety of employees on site. Furthermore, ongoing travel restrictions have had implications related to people movement from Ulaanbaatar to site and Oyu Tolgoi is therefore developing contingency plans to mitigate any associated risks. The company will continue to monitor the situation and assess any impact on Oyu Tolgoi's operations or underground work, and update the market as appropriate.
|Over a month ago|
Turquoise Hill price target raised to C$30 from C$27 at Scotiabank » 11:0903/1003/10/21
Scotiabank analyst Orest…
Scotiabank analyst Orest Wowkodaw raised the firm's price target on Turquoise Hill to C$30 from C$27 and keeps an Outperform rating on the shares.
Turquoise Hill price target raised to C$26 from C$24 at TD Securities » 11:0003/1003/10/21
TD Securities analyst…
TD Securities analyst Craig Hutchison raised the firm's price target on Turquoise Hill to C$26 from C$24 and keeps a Speculative Buy rating on the shares.
Turquoise Hill price target lowered to C$17 from C$18 at BMO Capital » 11:0303/0903/09/21
BMO Capital analyst…
BMO Capital analyst Jackie Przybylowski lowered the firm's price target on Turquoise Hill to C$17 from C$18 and keeps a Market Perform rating on the shares.
Turquoise Hill guides FY21 copper output 160-180 KT, gold output 500-550K oz » 17:1603/0803/08/21
The company states:…
The company states: "The increase in gold production in 2021 compared with 2020 is the result of transitioning lower into the higher grade areas of Phase 4B. The Company has been advised by the manager that a geotechnical event in Phase 4B in December 2020 has required changes to the mine design that will slightly impact metal delivery in 2021 and 2022, but is expected to remain within the outlook range. Additional optimisation of Phase 4B is currently underway, and the Company anticipates releasing its 2022 outlook at the conclusion thereof. Operating cash costs for 2021 are expected to be $800M to $850M. Capital expenditure for 2021 on a cash-basis is expected to be between $110M to $140M for the open-pit and $1.1B to $1.2B for the underground, including underground sustaining capital expenditure but excluding any power-related expenditure. Capital expenditure for 2021 is expected to be higher than 2020 partly due to the impact of deferrals in spend from 2020 to 2021 resulting from the impact of the COVID-19 pandemic."
Turquoise Hill reports Q4 operating income $245.8M vs. $42.4M last year » 17:1303/0803/08/21
Reports Q4 revenue…
Reports Q4 revenue $405.1M, consensus $253.77M. Board chair Peter Gillin says: "2020 was an important year for Turquoise Hill. In the face of the COVID-19 pandemic that dominated 2020, the Oyu Tolgoi mine achieved another year of excellent operational results, with copper production in-line with original guidance, and gold production exceeding original forecasts. In addition to our operational excellence, the Oyu Tolgoi team posted a new record safety performance while open-pit operations continued uninterrupted throughout the entire year. Focusing on the underground, milestones achieved during 2020 included updating the mine design and completing both the 2020 Oyu Tolgoi Technical Report and the Definitive Estimate. Overall, the underground lateral development has now reached 53,000 equivalent meters with development required before first drawbell substantially complete, and all surface infrastructure required to support first sustainable production of the Hugo North Lift 1 Panel 0 built. Although we continue to face many challenges, we remain on track in bringing Panel 0 to first sustainable production in October 2022."
Turquoise Hill downgraded to Market Perform from Outperform at BMO Capital » 16:1903/0403/04/21
BMO Capital analyst…
BMO Capital analyst Jackie Przybylowski downgraded Turquoise Hill (TRQ) to Market Perform from Outperform with a price target of C$18, down from C$23, after CEO Ulf Quellmann resigned this morning in what the analyst calls a "surprise exit" after majority shareholder Rio Tinto (RIO) warned that it would not support Quellmann's reelection to Turquoise'S board. Quellmann had prioritized the defense of minority shareholder interests and his exit makes it increasingly likely that project funding will be dilutive to Turquoise Hill minority equity holders, argues Przybylowski.