Turquoise Hill Resources Ltd (NYSE:TRQ) Shares Sold by Toronto Dominion Bank

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Toronto Dominion Bank cut its stake in Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 51.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,022 shares of the basic materials company’s stock after selling 584,641 shares during the period. Toronto Dominion Bank’s holdings in Turquoise Hill Resources were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TRQ. Capital Growth Management LP boosted its stake in Turquoise Hill Resources by 36.0% in the 2nd quarter. Capital Growth Management LP now owns 30,011,000 shares of the basic materials company’s stock worth $37,214,000 after purchasing an additional 7,950,000 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Turquoise Hill Resources by 22.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,694,041 shares of the basic materials company’s stock worth $39,313,000 after purchasing an additional 5,729,376 shares in the last quarter. Marshall Wace LLP acquired a new stake in Turquoise Hill Resources in the 1st quarter worth approximately $6,769,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Turquoise Hill Resources during the 1st quarter valued at approximately $3,835,000. Finally, Marshall Wace North America L.P. lifted its stake in Turquoise Hill Resources by 738.2% during the 1st quarter. Marshall Wace North America L.P. now owns 1,089,005 shares of the basic materials company’s stock valued at $1,804,000 after acquiring an additional 959,086 shares during the period. Institutional investors own 39.25% of the company’s stock.

NYSE TRQ traded up $0.01 on Thursday, hitting $0.45. 75,076 shares of the company’s stock traded hands, compared to its average volume of 5,350,376. The company has a current ratio of 6.20, a quick ratio of 5.81 and a debt-to-equity ratio of 0.54. Turquoise Hill Resources Ltd has a 1-year low of $0.40 and a 1-year high of $2.25. The firm’s 50-day moving average price is $0.47 and its two-hundred day moving average price is $1.13. The firm has a market capitalization of $905.54 million, a PE ratio of 2.10 and a beta of 1.05.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.08 EPS for the quarter. Turquoise Hill Resources had a negative net margin of 13.64% and a positive return on equity of 5.04%. The business had revenue of $382.75 million during the quarter.

Several brokerages have commented on TRQ. Eight Capital cut shares of Turquoise Hill Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 16th. TheStreet cut shares of Turquoise Hill Resources from a “c-” rating to a “d” rating in a research note on Friday, August 2nd. CIBC cut shares of Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 17th. Royal Bank of Canada decreased their price objective on shares of Turquoise Hill Resources from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 17th. Finally, ValuEngine cut shares of Turquoise Hill Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.52.

Turquoise Hill Resources Company Profile

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, and silver deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd.

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Institutional Ownership by Quarter for Turquoise Hill Resources (NYSE:TRQ)

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