Turquoise Hill Resources (NYSE:TRQ) Sees Strong Trading Volume

Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) shares saw unusually-high trading volume on Friday . Approximately 212,749 shares were traded during trading, a decline of 96% from the previous session’s volume of 5,727,593 shares.The stock last traded at $0.59 and had previously closed at $0.57.

TRQ has been the subject of several analyst reports. Macquarie raised shares of Turquoise Hill Resources from a “neutral” rating to an “outperform” rating in a research note on Friday, October 11th. ValuEngine upgraded shares of Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Turquoise Hill Resources has a consensus rating of “Hold” and a consensus price target of $2.52.

The business has a fifty day moving average of $0.46 and a 200 day moving average of $0.69. The firm has a market cap of $915.60 million, a P/E ratio of 1.98 and a beta of 1.15. The company has a quick ratio of 4.91, a current ratio of 5.24 and a debt-to-equity ratio of 0.54.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in shares of Turquoise Hill Resources by 65.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 145,412 shares of the basic materials company’s stock worth $68,000 after buying an additional 57,635 shares during the period. Russell Investments Group Ltd. raised its position in shares of Turquoise Hill Resources by 0.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 31,831,951 shares of the basic materials company’s stock valued at $15,145,000 after acquiring an additional 137,910 shares during the period. Shah Capital Management bought a new position in Turquoise Hill Resources during the 3rd quarter worth approximately $3,353,000. Exane Derivatives boosted its stake in Turquoise Hill Resources by 457.5% during the 3rd quarter. Exane Derivatives now owns 316,831 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 260,000 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Turquoise Hill Resources during the second quarter valued at approximately $18,764,000. Hedge funds and other institutional investors own 35.67% of the company’s stock.

Turquoise Hill Resources Company Profile (NYSE:TRQ)

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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