Turquoise Hill Resources Ltd (NYSE:TRQ) Short Interest Up 126.5% in September

Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 15,490,000 shares, an increase of 126.5% from the August 30th total of 6,840,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 7,270,000 shares, the short-interest ratio is presently 2.1 days.

Shares of Turquoise Hill Resources stock traded up $0.04 during trading on Friday, reaching $0.48. The company’s stock had a trading volume of 1,361,246 shares, compared to its average volume of 6,088,828. The company has a quick ratio of 5.81, a current ratio of 6.20 and a debt-to-equity ratio of 0.54. Turquoise Hill Resources has a 12-month low of $0.40 and a 12-month high of $2.17. The company has a market capitalization of $851.41 million, a P/E ratio of 1.92 and a beta of 1.12. The business has a 50 day moving average price of $0.46 and a 200-day moving average price of $0.99.

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

Several institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. purchased a new stake in shares of Turquoise Hill Resources in the second quarter valued at approximately $18,764,000. Luminus Management LLC boosted its stake in shares of Turquoise Hill Resources by 14.3% in the second quarter. Luminus Management LLC now owns 16,674,503 shares of the basic materials company’s stock valued at $20,676,000 after buying an additional 2,081,514 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Turquoise Hill Resources by 1.8% in the second quarter. Royal Bank of Canada now owns 6,025,253 shares of the basic materials company’s stock valued at $7,470,000 after buying an additional 106,168 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Turquoise Hill Resources by 153.6% in the second quarter. Jane Street Group LLC now owns 37,900 shares of the basic materials company’s stock valued at $47,000 after buying an additional 22,954 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Turquoise Hill Resources by 168.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,681,598 shares of the basic materials company’s stock valued at $2,093,000 after buying an additional 1,054,888 shares in the last quarter. Hedge funds and other institutional investors own 39.25% of the company’s stock.

TRQ has been the topic of a number of recent research reports. Macquarie raised Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a report on Friday. Eight Capital lowered Turquoise Hill Resources from a “buy” rating to a “neutral” rating in a report on Tuesday, July 16th. ValuEngine raised Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a report on Monday. TD Securities reissued a “speculative buy” rating and issued a $2.25 target price (down previously from $4.00) on shares of Turquoise Hill Resources in a report on Wednesday, July 17th. Finally, CIBC lowered Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average 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.

See Also: Return on Equity (ROE)

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