Great West Life Assurance Co. Can Has $50,000 Holdings in Turquoise Hill Resources Ltd (NYSE:TRQ)

Great West Life Assurance Co. Can cut its stake in shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 73.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,159 shares of the basic materials company’s stock after selling 303,157 shares during the period. Great West Life Assurance Co. Can’s holdings in Turquoise Hill Resources were worth $50,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Shah Capital Management bought a new stake in shares of Turquoise Hill Resources in the third quarter worth $3,353,000. Exane Derivatives grew its stake in shares of Turquoise Hill Resources by 457.5% in the third quarter. Exane Derivatives now owns 316,831 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 260,000 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Turquoise Hill Resources in the second quarter worth $18,764,000. Luminus Management LLC grew its stake in shares of Turquoise Hill Resources by 14.3% in the second quarter. Luminus Management LLC now owns 16,674,503 shares of the basic materials company’s stock worth $20,676,000 after purchasing an additional 2,081,514 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Turquoise Hill Resources by 1.8% in the second quarter. Royal Bank of Canada now owns 6,025,253 shares of the basic materials company’s stock worth $7,470,000 after purchasing an additional 106,168 shares during the last quarter. Institutional investors own 39.60% of the company’s stock.

TRQ opened at $0.46 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 6.20 and a quick ratio of 5.81. Turquoise Hill Resources Ltd has a fifty-two week low of $0.40 and a fifty-two week high of $2.17. The firm has a market capitalization of $923.85 million, a PE ratio of 2.11 and a beta of 1.12. The company’s 50-day moving average is $0.46 and its 200 day moving average is $0.82.

Several brokerages have recently weighed in on TRQ. ValuEngine upgraded shares of Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a report on Monday, October 7th. Eight Capital lowered shares of Turquoise Hill Resources from a “buy” rating to a “neutral” rating in a report on Tuesday, July 16th. TD Securities restated a “speculative buy” rating and issued a $2.25 target price (down previously from $4.00) on shares of Turquoise Hill Resources in a report on Wednesday, July 17th. TheStreet lowered shares of Turquoise Hill Resources from a “c-” rating to a “d” rating in a report on Friday, August 2nd. Finally, CIBC lowered shares of Turquoise Hill Resources from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Turquoise Hill Resources currently has an average rating of “Hold” and an average price target of $2.52.

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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