Turquoise Hill Resources (TRQ) Downgraded to “Sell” at ValuEngine

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, April 11th, ValuEngine reports.

Separately, CIBC reissued a “hold” rating and issued a $3.30 price objective on shares of Turquoise Hill Resources in a research report on Friday, March 29th.

Turquoise Hill Resources stock traded up $0.08 during trading hours on Thursday, hitting $1.52. The company 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. The company has a debt-to-equity ratio of 0.50, a current ratio of 6.60 and a quick ratio of 6.14. Turquoise Hill Resources has a 1 year low of $1.41 and a 1 year high of $3.23.

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

Several large investors have recently bought and sold shares of the company. Kopernik Global Investors LLC raised its holdings in shares of Turquoise Hill Resources by 40.9% in the 4th 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 shares of Turquoise Hill Resources by 3.1% during the 3rd 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 shares of Turquoise Hill Resources by 3.1% during the 3rd 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. Norges Bank bought a new position in shares of Turquoise Hill Resources during the 4th quarter worth approximately $12,865,000. Finally, Eaton Vance Management bought a new position in shares of Turquoise Hill Resources during the 4th quarter worth approximately $11,241,000. Institutional investors and hedge funds own 35.74% of the company’s stock.

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.

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