Turquoise Hill Resources Ltd. (TRQ) Stake Decreased by APG Asset Management N.V.

APG Asset Management N.V. reduced its stake in Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) by 38.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,316 shares of the basic materials company’s stock after selling 118,934 shares during the period. APG Asset Management N.V.’s holdings in Turquoise Hill Resources were worth $667,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. raised its position in Turquoise Hill Resources by 37.6% in the first quarter. NN Investment Partners Holdings N.V. now owns 566,873 shares of the basic materials company’s stock valued at $1,741,000 after buying an additional 154,988 shares in the last quarter. Renaissance Technologies LLC raised its position in Turquoise Hill Resources by 65.4% in the fourth quarter. Renaissance Technologies LLC now owns 683,500 shares of the basic materials company’s stock valued at $2,190,000 after buying an additional 270,200 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Turquoise Hill Resources during the fourth quarter valued at about $150,000. Gulf International Bank UK Ltd raised its position in Turquoise Hill Resources by 12.4% in the first quarter. Gulf International Bank UK Ltd now owns 362,832 shares of the basic materials company’s stock valued at $1,106,000 after buying an additional 40,000 shares in the last quarter. Finally, FMR LLC raised its position in Turquoise Hill Resources by 40.6% in the fourth quarter. FMR LLC now owns 468,308 shares of the basic materials company’s stock valued at $1,503,000 after buying an additional 135,308 shares in the last quarter. 31.29% of the stock is owned by hedge funds and other institutional investors.

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) traded up 1.23% during trading on Friday, reaching $3.28. The company’s stock had a trading volume of 2,968,786 shares. Turquoise Hill Resources Ltd. has a 12-month low of $2.44 and a 12-month high of $3.80. The stock has a market capitalization of $6.60 billion, a PE ratio of 54.67 and a beta of 0.39. The firm’s 50-day moving average is $2.77 and its 200-day moving average is $2.99.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings results on Monday, July 31st. The basic materials company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The company had revenue of $203.70 million during the quarter, compared to analysts’ expectations of $223.14 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s revenue was down 38.2% compared to the same quarter last year. Equities analysts expect that Turquoise Hill Resources Ltd. will post ($0.01) earnings per share for the current year.

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Several equities analysts have recently issued reports on TRQ shares. Credit Suisse Group reaffirmed a “neutral” rating on shares of Turquoise Hill Resources in a research report on Tuesday, April 18th. ValuEngine lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reissued a “hold” rating on shares of Turquoise Hill Resources in a research report on Wednesday, April 19th. Finally, BidaskClub raised Turquoise Hill Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Turquoise Hill Resources currently has a consensus rating of “Hold” and a consensus target price of $4.90.

About Turquoise Hill Resources

Turquoise Hill Resources Ltd. 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 held through approximately 65% interest in Oyu Tolgoi LLC (Oyu Tolgoi) and the remaining approximately 35% interest is held by Erdenes Oyu Tolgoi LLC (Erdenes).