Capital Growth Management LP bought a new stake in Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,200,000 shares of the basic materials company’s stock, valued at approximately $19,080,000. Capital Growth Management LP owned 0.36% of Turquoise Hill Resources at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Greenleaf Trust acquired a new stake in Turquoise Hill Resources in the 2nd quarter valued at approximately $122,000. Van ECK Associates Corp increased its position in Turquoise Hill Resources by 15.1% in the 2nd quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock valued at $129,000 after acquiring an additional 6,360 shares during the period. Paloma Partners Management Co acquired a new stake in Turquoise Hill Resources in the 1st quarter valued at approximately $163,000. Commerzbank Aktiengesellschaft FI increased its position in Turquoise Hill Resources by 11.2% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 55,537 shares of the basic materials company’s stock valued at $170,000 after acquiring an additional 5,579 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in Turquoise Hill Resources by 52.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 58,400 shares of the basic materials company’s stock valued at $178,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 32.86% of the company’s stock.
Shares of Turquoise Hill Resources Ltd. (TRQ) traded down 0.161% during trading on Tuesday, hitting $3.105. The stock had a trading volume of 773,800 shares. Turquoise Hill Resources Ltd. has a 52 week low of $2.44 and a 52 week high of $3.80. The stock’s 50 day moving average is $3.20 and its 200 day moving average is $2.92. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 51.750 and a beta of 0.40.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings data on Monday, July 31st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The firm had revenue of $203.70 million for the quarter, compared to the consensus estimate of $223.14 million. During the same quarter in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 38.2% compared to the same quarter last year. On average, equities research analysts expect that Turquoise Hill Resources Ltd. will post $0.02 earnings per share for the current fiscal year.
Several analysts recently commented on the company. Royal Bank Of Canada restated a “hold” rating and issued a $4.00 target price on shares of Turquoise Hill Resources in a research report on Wednesday, August 2nd. BidaskClub cut Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. CIBC assumed coverage on Turquoise Hill Resources in a research report on Friday. They issued a “sector outperform” rating on the stock. Finally, ValuEngine cut Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.00.
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Turquoise Hill Resources 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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