Toronto Dominion Bank boosted its position in Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 24.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 973,131 shares of the basic materials company’s stock after buying an additional 194,068 shares during the period. Toronto Dominion Bank’s holdings in Turquoise Hill Resources were worth $3,011,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Greenleaf Trust purchased a new stake in shares of Turquoise Hill Resources in the 2nd quarter worth about $122,000. Van ECK Associates Corp raised its stake 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 purchasing an additional 6,360 shares during the last quarter. Paloma Partners Management Co acquired a new position in Turquoise Hill Resources in the 1st quarter valued at about $163,000. Verition Fund Management LLC acquired a new position in Turquoise Hill Resources in the 2nd quarter valued at about $155,000. Finally, Virtu KCG Holdings LLC raised its stake in Turquoise Hill Resources by 25.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 13,416 shares during the last quarter. Hedge funds and other institutional investors own 33.87% of the company’s stock.
TRQ has been the subject of several analyst reports. Scotiabank reissued a “buy” rating and issued a $5.50 target price on shares of Turquoise Hill Resources in a research note on Monday, November 6th. CIBC assumed coverage on shares of Turquoise Hill Resources in a research note on Friday, September 15th. They issued a “sector outperform” rating for the company. Royal Bank Of Canada set a $4.00 price objective on shares of Turquoise Hill Resources and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, BidaskClub downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $4.75.
Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) traded up $0.07 during trading hours on Thursday, hitting $3.00. The stock had a trading volume of 1,871,984 shares, compared to its average volume of 3,575,297. The stock has a market cap of $5,936.33, a PE ratio of 26.82 and a beta of 0.30. Turquoise Hill Resources Ltd has a 1-year low of $2.44 and a 1-year high of $3.80. The company has a quick ratio of 6.38, a current ratio of 6.85 and a debt-to-equity ratio of 0.52.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.03 earnings per share for the quarter. The firm had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $246.86 million. Turquoise Hill Resources had a return on equity of 2.81% and a net margin of 24.48%. Turquoise Hill Resources’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS.
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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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