Turquoise Hill Resources (TRQ) Shares Gap Down to $1.83

Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) gapped down prior to trading on Thursday . The stock had previously closed at $1.70, but opened at $1.83. Turquoise Hill Resources shares last traded at $1.77, with a volume of 127499 shares.

TRQ has been the subject of a number of recent research reports. CIBC restated a “buy” rating on shares of Turquoise Hill Resources in a report on Sunday, January 20th. ValuEngine upgraded shares of Turquoise Hill Resources from a “sell” rating to a “hold” rating in a report on Wednesday.

The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 11.16 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.73 and a current ratio of 5.16.

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Turquoise Hill Resources by 4,316.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,313 shares of the basic materials company’s stock worth $2,253,000 after acquiring an additional 1,038,261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Turquoise Hill Resources by 20.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 327,421 shares of the basic materials company’s stock valued at $539,000 after buying an additional 54,690 shares during the last quarter. Credit Suisse AG raised its holdings in Turquoise Hill Resources by 3.3% during the 3rd quarter. Credit Suisse AG now owns 1,429,031 shares of the basic materials company’s stock valued at $3,028,000 after buying an additional 45,949 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in Turquoise Hill Resources during the 4th quarter valued at $34,000. Finally, Jane Street Group LLC raised its holdings in Turquoise Hill Resources by 98.3% during the 3rd quarter. Jane Street Group LLC now owns 136,732 shares of the basic materials company’s stock valued at $290,000 after buying an additional 67,797 shares during the last quarter. Hedge funds and other institutional investors own 35.31% of the company’s stock.

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About Turquoise Hill Resources (NYSE:TRQ)

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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