Turquoise Hill Resources Ltd (NYSE:TRQ) Holdings Reduced by Dalton Investments LLC

Dalton Investments LLC trimmed its holdings in shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,832,345 shares of the basic materials company’s stock after selling 1,113,544 shares during the period. Turquoise Hill Resources makes up about 7.2% of Dalton Investments LLC’s investment portfolio, making the stock its 5th largest holding. Dalton Investments LLC’s holdings in Turquoise Hill Resources were worth $15,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of Nova Scotia boosted its stake in Turquoise Hill Resources by 33.2% during the 2nd quarter. Bank of Nova Scotia now owns 1,043,519 shares of the basic materials company’s stock valued at $1,294,000 after purchasing an additional 260,163 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Turquoise Hill Resources during the 2nd quarter valued at $333,000. Quinn Opportunity Partners LLC purchased a new stake in Turquoise Hill Resources during the 2nd quarter valued at $68,000. Capital Growth Management LP boosted its stake in Turquoise Hill Resources by 36.0% during the 2nd quarter. Capital Growth Management LP now owns 30,011,000 shares of the basic materials company’s stock valued at $37,214,000 after purchasing an additional 7,950,000 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Turquoise Hill Resources by 22.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 31,694,041 shares of the basic materials company’s stock valued at $39,313,000 after purchasing an additional 5,729,376 shares during the last quarter. Institutional investors and hedge funds own 39.25% of the company’s stock.

Several analysts have commented on TRQ shares. Royal Bank of Canada cut their target price on Turquoise Hill Resources from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 17th. TD Securities reiterated a “speculative buy” rating and set a $2.25 target price (down from $4.00) on shares of Turquoise Hill Resources in a research note on Wednesday, July 17th. ValuEngine downgraded Turquoise Hill Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. CIBC downgraded Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 17th. Finally, TheStreet downgraded Turquoise Hill Resources from a “c-” rating to a “d” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $2.52.

TRQ stock opened at $0.48 on Friday. The company has a market cap of $939.95 million, a P/E ratio of 2.18 and a beta of 1.05. Turquoise Hill Resources Ltd has a 1 year low of $0.40 and a 1 year high of $2.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 6.20 and a quick ratio of 5.81. The stock’s fifty day moving average price is $0.49 and its 200-day moving average price is $1.17.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $382.75 million for the quarter. Turquoise Hill Resources had a positive return on equity of 5.04% and a negative net margin of 13.64%.

About Turquoise Hill Resources

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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