Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) announced its quarterly earnings data on Monday, July 31st. The basic materials company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, Briefing.com reports. Turquoise Hill Resources had a net margin of 14.20% and a return on equity of 1.60%. The company had revenue of $203.70 million for the quarter, compared to the consensus estimate of $223.14 million. During the same period in the prior year, the firm posted $0.01 EPS. Turquoise Hill Resources’s revenue for the quarter was down 38.2% on a year-over-year basis.
Shares of Turquoise Hill Resources (NYSE:TRQ) opened at 3.10 on Friday. The stock has a market cap of $6.24 billion, a P/E ratio of 51.67 and a beta of 0.39. Turquoise Hill Resources has a one year low of $2.44 and a one year high of $3.80. The stock’s 50 day moving average is $3.00 and its 200-day moving average is $2.97.
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Several analysts recently commented on the stock. BidaskClub downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank Of Canada reissued a “hold” rating and set a $4.00 price objective on shares of Turquoise Hill Resources in a research report on Wednesday, August 2nd. Finally, ValuEngine downgraded shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Turquoise Hill Resources presently has an average rating of “Hold” and an average price target of $5.00.
A number of institutional investors have recently made changes to their positions in TRQ. Greenleaf Trust purchased a new position in shares of Turquoise Hill Resources during the second quarter worth approximately $122,000. Van ECK Associates Corp raised its stake in shares of Turquoise Hill Resources by 15.1% in the second quarter. Van ECK Associates Corp now owns 48,358 shares of the basic materials company’s stock worth $129,000 after buying an additional 6,360 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Turquoise Hill Resources during the fourth quarter worth $150,000. Verition Fund Management LLC acquired a new stake in shares of Turquoise Hill Resources during the second quarter worth $155,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Turquoise Hill Resources during the first quarter worth $163,000. Institutional investors and hedge funds own 31.28% of the company’s stock.
About Turquoise Hill Resources
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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