CIBC Asset Management Inc. increased its stake in the shares of Turquoise Hill Resources Ltd. (NYSE: CT – Get a rating) (TSE: TRQ) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The company held 88,925 shares of the basic materials company after purchasing an additional 2,644 shares during the period. The holdings of CIBC Asset Management Inc. in Turquoise Hill Resources were worth $2,673,000 at the end of the most recent period.
Several other institutional investors and hedge funds have also recently increased or reduced their stakes in TRQ. AlphaCentric Advisors LLC bought a new position in shares of Turquoise Hill Resources during the 4th quarter at a value of $76,000. Nexus Investment Management ULC bought a new position in Turquoise Hill Resources in the first quarter, valued at approximately $222,000. Aigen Investment Management LP bought a new position in Turquoise Hill Resources in the first quarter worth approximately $339,000. Shell Asset Management Co. increased its stake in shares of Turquoise Hill Resources by 20.1% during the 4th quarter. Shell Asset Management Co. now owns 11,334 shares of the basic materials company valued at $187,000 after buying an additional 1,900 shares during the period. Finally, Keybank National Association OH purchased a new stake in shares of Turquoise Hill Resources during Q4, valued at approximately $263,000. Hedge funds and other institutional investors hold 34.39% of the company’s shares.
Turquoise Hill resources are trading down 0.6%
Shares of Turquoise Hill Resources Stock opened at $25.09 on Monday. The company has a debt ratio of 0.40, a quick ratio of 0.76 and a current ratio of 1.09. The company has a fifty-day moving average of $26.75 and a 200-day moving average of $25.59. The company has a market capitalization of $5.05 billion, a P/E ratio of 9.19 and a beta of 1.62. Turquoise Hill Resources Ltd. has a fifty-two week minimum of $9.75 and a fifty-two week maximum of $31.05.
Turquoise Hill Resources (NYSE: CT – Get a rating) (TSE:TRQ) last released its quarterly earnings data on Tuesday, May 10. The basic materials company reported earnings per share of $1.37 for the quarter. Turquoise Hill Resources had a return on equity of 5.97% and a net margin of 28.44%. The company had revenue of $402.65 million in the quarter.
A Wall Street analyst gives his opinion
Several research analysts have weighed in on TRQ shares recently. Scotiabank lowered its price target on shares of Turquoise Hill Resources from C$44.00 to C$42.00 in a Thursday, July 7 research note. Canaccord Genuity Group lowered its target price on Turquoise Hill Resources from C$45.00 to C$44.00 in a Thursday, July 14 research report. One analyst gave the stock a sell rating, four gave the company a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.83.
Turquoise Hill Resource Profile
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company mainly explores copper, gold and silver deposits. It is responsible for the operation and development of the Oyu Tolgoi copper-gold mine located in southern Mongolia. The company was previously known as Ivanhoe Mines Ltd.
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