- Turquoise Hill Resources (TRQ -1.7%) is lower after TD Securities downgrades shares to Hold from Speculative Buy on valuation, even as the firm raises its stock price target to C$5 from C$4.50.
- TD says it continues to expect TRQ to reach a resolution over Oyu Tolgoi with Mongolia's government sometime in H2 2015 and the resumption of underground development in 2016; in the meantime, it expects TRQ to generate solid free cash flow in 2015, supported by strong production and low cash costs at Oyu Tolgoi.