U S Global Investors Inc. purchased a new stake in Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 400,000 shares of the basic materials company’s stock, valued at approximately $664,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Eaton Vance Management bought a new position in Turquoise Hill Resources in the fourth quarter valued at approximately $11,241,000. Norges Bank bought a new position in Turquoise Hill Resources in the fourth quarter valued at approximately $12,865,000. BlackRock Inc. lifted its stake in Turquoise Hill Resources by 5.4% in the fourth quarter. BlackRock Inc. now owns 518,289 shares of the basic materials company’s stock valued at $855,000 after buying an additional 26,476 shares in the last quarter. Ramsey Quantitative Systems bought a new position in Turquoise Hill Resources in the fourth quarter valued at approximately $226,000. Finally, JPMorgan Chase & Co. lifted its stake in Turquoise Hill Resources by 4,316.7% in the third quarter. JPMorgan Chase & Co. now owns 1,062,313 shares of the basic materials company’s stock valued at $2,253,000 after buying an additional 1,038,261 shares in the last quarter. 38.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TRQ stock traded up $0.01 during trading on Tuesday, reaching $1.20. The company’s stock had a trading volume of 75,653 shares, compared to its average volume of 5,983,062. The company has a quick ratio of 5.86, a current ratio of 6.32 and a debt-to-equity ratio of 0.49. The firm has a market cap of $2.48 billion, a PE ratio of 5.35 and a beta of 0.99. Turquoise Hill Resources Ltd has a one year low of $1.12 and a one year high of $2.97.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last announced its quarterly earnings data on Wednesday, May 15th. The basic materials company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. The business had revenue of $353.00 million for the quarter, compared to analyst estimates of $295.94 million. Turquoise Hill Resources had a net margin of 33.93% and a return on equity of 5.21%. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share.
A number of brokerages have recently commented on TRQ. ValuEngine raised shares of Turquoise Hill Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. CIBC reissued a “hold” rating and issued a $3.30 price objective on shares of Turquoise Hill Resources in a research report on Friday, March 29th.
Turquoise Hill Resources 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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