The Dynamic Technology Lab Private Ltd Buys Shares of 44,082 Turquoise Hill Resources Ltd. (TRQ)

The Dynamic Technology Lab Private Ltd Buys Shares of 44,082 Turquoise Hill Resources Ltd. (TRQ)

Dynamic Technology Lab Private Ltd purchased a new stake in Turquoise Hill Resources Ltd. (NYSE:TRQ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,082 shares of the company’s stock, valued at approximately $149,000.

Several other hedge funds also recently bought and sold shares of TRQ. Aperio Group LLC boosted its stake in Turquoise Hill Resources by 2.5% in the first quarter. Aperio Group LLC now owns 165,569 shares of the company’s stock valued at $421,000 after buying an additional 4,016 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Turquoise Hill Resources by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,155,583 shares of the company’s stock valued at $3,906,000 after buying an additional 4,138 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Turquoise Hill Resources by 0.4% in the second quarter. UBS Asset Management Americas Inc. now owns 1,909,887 shares of the company’s stock valued at $6,427,000 after buying an additional 6,927 shares during the last quarter. World Asset Management Inc raised its position in shares of Turquoise Hill Resources by 8.1% in the second quarter. World Asset Management Inc now owns 124,551 shares of the company’s stock valued at $421,000 after buying an additional 9,383 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Turquoise Hill Resources by 7.9% in the first quarter. UBS Group AG now owns 205,689 shares of the company’s stock valued at $522,000 after buying an additional 15,050 shares during the last quarter. Institutional investors and hedge funds own 30.14% of the company’s stock.

Turquoise Hill Resources Ltd. (NYSE:TRQ) opened at 2.94 on Friday. Turquoise Hill Resources Ltd. has a 52-week low of $1.55 and a 52-week high of $3.67. The stock has a 50 day moving average of $3.03 and a 200-day moving average of $3.03. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 17.40 and a beta of 1.37.

Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Turquoise Hill Resources had a return on equity of 4.77% and a net margin of 22.14%. The business earned $329.70 million during the quarter, compared to analysts’ expectations of $316.13 million. During the same period in the prior year, the business earned $0.02 EPS. Turquoise Hill Resources’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts forecast that Turquoise Hill Resources Ltd. will post ($0.01) EPS for the current year.

Several equities analysts recently weighed in on TRQ shares. TD Securities reaffirmed a “buy” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Canaccord Genuity started coverage on shares of Turquoise Hill Resources in a research report on Wednesday, August 17th. They set a “hold” rating and a $4.50 price objective on the stock. Zacks Investment Research lowered shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Scotiabank reaffirmed a “sector perform” rating and set a $5.50 price objective on shares of Turquoise Hill Resources in a research report on Thursday, August 4th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $5.00 price objective on shares of Turquoise Hill Resources in a research report on Tuesday, July 19th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Turquoise Hill Resources presently has an average rating of “Hold” and a consensus price target of $4.64.

About Turquoise Hill Resources

Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company. The Company focuses on the operation and further development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is the Company’s principal material mineral resource property. The Company’s Oyu Tolgoi mine is located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.

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