Hexavest Inc. Has $8.515 Million Stake in Turquoise Hill Resources Ltd (TRQ)

Hexavest Inc. boosted its stake in Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 2.9% during the first quarter, Holdings Channel reports. The firm owned 2,797,150 shares of the basic materials company’s stock after buying an additional 78,646 shares during the period. Hexavest Inc. owned 0.14% of Turquoise Hill Resources worth $8,515,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TRQ. Bourgeon Capital Management LLC raised its stake in Turquoise Hill Resources by 1.6% in the third quarter. Bourgeon Capital Management LLC now owns 87,325 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,369 shares during the period. Nwam LLC purchased a new stake in Turquoise Hill Resources during the third quarter valued at $267,000. Kopernik Global Investors LLC raised its stake in Turquoise Hill Resources by 13.9% in the third quarter. Kopernik Global Investors LLC now owns 11,149,464 shares of the basic materials company’s stock valued at $33,115,000 after buying an additional 1,360,761 shares during the period. Bank of New York Mellon Corp raised its stake in Turquoise Hill Resources by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,158,511 shares of the basic materials company’s stock valued at $3,441,000 after buying an additional 2,928 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Turquoise Hill Resources by 3.3% in the third quarter. UBS Asset Management Americas Inc. now owns 1,972,066 shares of the basic materials company’s stock valued at $5,822,000 after buying an additional 62,179 shares during the period. Institutional investors own 30.50% of the company’s stock.

Institutional Ownership by Quarter for Turquoise Hill Resources (NYSE:TRQ)

Shares of Turquoise Hill Resources Ltd (NYSE:TRQ) traded down 0.926% during midday trading on Friday, hitting $2.675. 1,453,078 shares of the stock traded hands. The firm has a 50-day moving average price of $3.08 and a 200-day moving average price of $3.26. Turquoise Hill Resources Ltd has a 52 week low of $2.57 and a 52 week high of $3.80. The stock has a market capitalization of $5.38 billion, a P/E ratio of 26.750 and a beta of 0.74.

Turquoise Hill Resources (NYSE:TRQ) last posted its earnings results on Monday, March 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Turquoise Hill Resources had a net margin of 21.61% and a return on equity of 3.78%. The firm earned $224.60 million during the quarter, compared to analyst estimates of $215.65 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue was down 36.8% compared to the same quarter last year. On average, equities analysts predict that Turquoise Hill Resources Ltd will post $0.00 earnings per share for the current fiscal year.

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Several equities research analysts have weighed in on TRQ shares. Credit Suisse Group AG reiterated a “neutral” rating on shares of Turquoise Hill Resources in a report on Tuesday. Royal Bank of Canada reiterated a “hold” rating on shares of Turquoise Hill Resources in a report on Wednesday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.79.

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.

5 Day Chart for NYSE:TRQ

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