Turquoise Hill Resources (TRQ) Shares Gap Up to $1.32

Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) shares gapped up before the market opened on Friday . The stock had previously closed at $1.24, but opened at $1.32. Turquoise Hill Resources shares last traded at $1.30, with a volume of 101238 shares traded.

Several research analysts recently commented on TRQ shares. ValuEngine downgraded Turquoise Hill Resources from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. CIBC reissued a “hold” rating and issued a $3.30 price objective on shares of Turquoise Hill Resources in a research note on Friday, March 29th.

The company has a debt-to-equity ratio of 0.50, a current ratio of 6.60 and a quick ratio of 6.14. The company has a market cap of $2.58 billion, a P/E ratio of 5.57 and a beta of 0.83.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings data on Wednesday, May 15th. The basic materials company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Turquoise Hill Resources had a return on equity of 5.23% and a net margin of 33.93%. The firm had revenue of $353.00 million during the quarter, compared to the consensus estimate of $295.94 million. During the same period in the prior year, the company earned $0.04 EPS. The firm’s revenue was up 43.5% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently bought and sold shares of TRQ. JPMorgan Chase & Co. grew its holdings in 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 valued at $2,253,000 after buying an additional 1,038,261 shares in the last quarter. Jane Street Group LLC grew its holdings in Turquoise Hill Resources by 98.3% in 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 in the last quarter. Vanguard Group Inc. grew its holdings in Turquoise Hill Resources by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 26,952,156 shares of the basic materials company’s stock valued at $57,139,000 after buying an additional 808,720 shares in the last quarter. Vanguard Group Inc grew its holdings in Turquoise Hill Resources by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 26,952,156 shares of the basic materials company’s stock valued at $57,139,000 after buying an additional 808,720 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Turquoise Hill Resources by 14.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 96,645 shares of the basic materials company’s stock valued at $206,000 after buying an additional 12,373 shares in the last quarter. 35.60% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This story was published by Stock Observer and is the sole property of of Stock Observer. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.thestockobserver.com/2019/05/17/turquoise-hill-resources-trq-shares-gap-up-to-1-32.html.

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, 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.

Read More: What is a conference call?

Receive News & Ratings for Turquoise Hill Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turquoise Hill Resources and related companies with MarketBeat.com's FREE daily email newsletter.