U S Global Investors Inc purchased a new stake in Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 58,700 shares of the basic materials company’s stock, valued at approximately $180,000.
Other large investors have also made changes to their positions in the company. Boothbay Fund Management LLC acquired a new stake in shares of Turquoise Hill Resources during the fourth quarter valued at $135,000. Highbridge Capital Management LLC purchased a new position in Turquoise Hill Resources during the fourth quarter valued at approximately $150,000. Commerzbank Aktiengesellschaft FI raised its position in Turquoise Hill Resources by 5.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 49,958 shares of the basic materials company’s stock valued at $161,000 after buying an additional 2,798 shares during the last quarter. Scotia Capital Inc. raised its position in Turquoise Hill Resources by 300.5% in the fourth quarter. Scotia Capital Inc. now owns 53,462 shares of the basic materials company’s stock valued at $171,000 after buying an additional 40,112 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Turquoise Hill Resources during the first quarter valued at approximately $181,000. Institutional investors own 30.98% of the company’s stock.
Shares of Turquoise Hill Resources Ltd. (NYSE TRQ) traded down 1.98% during mid-day trading on Tuesday, hitting $2.47. 1,640,419 shares of the stock were exchanged. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 39.21 and a beta of 0.37. The company has a 50-day moving average price of $2.64 and a 200-day moving average price of $3.11. Turquoise Hill Resources Ltd. has a 12 month low of $2.44 and a 12 month high of $3.80.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its earnings results on Monday, May 15th. The basic materials company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Turquoise Hill Resources had a return on equity of 1.68% and a net margin of 13.03%. The company had revenue of $237.50 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same period last year, the business posted $0.06 EPS. Turquoise Hill Resources’s revenue for the quarter was down 43.8% on a year-over-year basis.
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Several research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $4.00 price objective on shares of Turquoise Hill Resources in a research note on Thursday, May 25th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Turquoise Hill Resources in a research note on Tuesday, April 18th. BidaskClub raised shares of Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, ValuEngine lowered shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $4.90.
Turquoise Hill Resources Company Profile
Turquoise Hill Resources Ltd. is an international mining company. The Company focuses on the operation and further development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is the Company’s principal material mineral resource property. The Company’s Oyu Tolgoi mine is held through approximately 65% interest in Oyu Tolgoi LLC (Oyu Tolgoi) and the remaining approximately 35% interest is held by Erdenes Oyu Tolgoi LLC (Erdenes).
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