Parametric Portfolio Associates LLC cut its stake in Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,498 shares of the basic materials company’s stock after selling 136,336 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Turquoise Hill Resources were worth $1,363,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in TRQ. Capital Growth Management LP purchased a new position in shares of Turquoise Hill Resources in the 2nd quarter valued at $19,080,000. Dalton Investments LLC increased its holdings in shares of Turquoise Hill Resources by 43.5% in the 2nd quarter. Dalton Investments LLC now owns 14,597,271 shares of the basic materials company’s stock valued at $38,683,000 after acquiring an additional 4,424,500 shares during the period. Vanguard Group Inc. increased its holdings in shares of Turquoise Hill Resources by 20.5% in the 2nd quarter. Vanguard Group Inc. now owns 22,470,490 shares of the basic materials company’s stock valued at $59,547,000 after acquiring an additional 3,824,469 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Turquoise Hill Resources by 59.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,086,671 shares of the basic materials company’s stock valued at $16,129,000 after acquiring an additional 2,261,833 shares during the period. Finally, Commonwealth Bank of Australia increased its holdings in shares of Turquoise Hill Resources by 348.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 978,086 shares of the basic materials company’s stock valued at $2,597,000 after acquiring an additional 759,835 shares during the period. Institutional investors and hedge funds own 33.00% of the company’s stock.
TRQ has been the topic of a number of analyst reports. BidaskClub upgraded Turquoise Hill Resources from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Scotiabank reiterated a “buy” rating and issued a $5.50 price target on shares of Turquoise Hill Resources in a report on Monday, November 6th. Royal Bank Of Canada reiterated a “hold” rating and issued a $4.00 price target on shares of Turquoise Hill Resources in a report on Wednesday, August 2nd. Finally, CIBC initiated coverage on Turquoise Hill Resources in a research report on Friday, September 15th. They issued a “sector outperform” rating for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Turquoise Hill Resources currently has a consensus rating of “Hold” and a consensus target price of $4.75.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings data 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%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS.
Turquoise Hill Resources Company 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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