Turquoise Hill Resources’ “Neutral” Rating Reaffirmed at Credit Suisse Group AG
Turquoise Hill Resources (NYSE:TRQ) opened at 2.77 on Tuesday. The stock has a market capitalization of $5.57 billion, a P/E ratio of 27.70 and a beta of 0.74. The firm’s 50-day moving average price is $3.11 and its 200 day moving average price is $3.27. Turquoise Hill Resources has a 12-month low of $2.57 and a 12-month high of $3.80.
Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Monday, March 27th. The basic materials company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $224.60 million for the quarter, compared to analyst estimates of $215.65 million. Turquoise Hill Resources had a return on equity of 3.78% and a net margin of 21.61%. Turquoise Hill Resources’s revenue for the quarter was down 36.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share.
A number of institutional investors have recently bought and sold shares of the stock. Boothbay Fund Management LLC purchased a new position in shares of Turquoise Hill Resources during the fourth quarter valued at about $135,000. Highbridge Capital Management LLC purchased a new position in shares of Turquoise Hill Resources during the fourth quarter valued at about $150,000. Commerzbank Aktiengesellschaft FI raised its position in shares of 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 shares of 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, Allianz Asset Management AG purchased a new position in shares of Turquoise Hill Resources during the fourth quarter valued at about $186,000. 30.50% of the stock is currently owned by hedge funds and other institutional investors.
Turquoise Hill Resources Company Profile
Turquoise Hill Resources Ltd. (Turquoise Hill) 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 located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.
By Renee Jackson