Nordea Investment Management AB Purchases 315,900 Shares of Turquoise Hill Resources Ltd (NYSE:TRQ)

Nordea Investment Management AB raised its holdings in shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 1,219.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,800 shares of the basic materials company’s stock after acquiring an additional 315,900 shares during the quarter. Nordea Investment Management AB’s holdings in Turquoise Hill Resources were worth $769,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TRQ. Kopernik Global Investors LLC raised its stake in shares of Turquoise Hill Resources by 40.9% in the fourth quarter. Kopernik Global Investors LLC now owns 34,306,926 shares of the basic materials company’s stock valued at $56,606,000 after purchasing an additional 9,959,133 shares in the last quarter. Vanguard Group Inc raised its stake in Turquoise Hill Resources by 3.1% during the third quarter. Vanguard Group Inc now owns 26,952,156 shares of the basic materials company’s stock worth $57,139,000 after acquiring an additional 808,720 shares in the last quarter. Vanguard Group Inc. raised its stake in Turquoise Hill Resources by 3.1% during the third quarter. Vanguard Group Inc. now owns 26,952,156 shares of the basic materials company’s stock worth $57,139,000 after acquiring an additional 808,720 shares in the last quarter. Eaton Vance Management acquired a new position in Turquoise Hill Resources during the fourth quarter worth $11,241,000. Finally, Legal & General Group Plc raised its stake in Turquoise Hill Resources by 4.6% during the fourth quarter. Legal & General Group Plc now owns 6,254,283 shares of the basic materials company’s stock worth $10,142,000 after acquiring an additional 277,193 shares in the last quarter. 35.74% of the stock is currently owned by institutional investors.

Several analysts have recently commented on TRQ shares. CIBC restated a “buy” rating on shares of Turquoise Hill Resources in a report on Sunday, January 20th. ValuEngine upgraded Turquoise Hill Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 27th.

Turquoise Hill Resources stock traded up $0.08 during mid-day trading on Friday, hitting $1.52. The stock had a trading volume of 5,558,128 shares, compared to its average volume of 5,818,126. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 7.14 and a beta of 0.83. Turquoise Hill Resources Ltd has a 12 month low of $1.41 and a 12 month high of $3.23. The company has a quick ratio of 6.14, a current ratio of 6.60 and a debt-to-equity ratio of 0.50.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its earnings results on Thursday, March 14th. The basic materials company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. Turquoise Hill Resources had a return on equity of 4.97% and a net margin of 34.84%. The firm had revenue of $346.20 million for the quarter, compared to analyst estimates of $318.72 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 37.5% on a year-over-year basis.

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Turquoise Hill Resources 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.

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Institutional Ownership by Quarter for Turquoise Hill Resources (NYSE:TRQ)

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