JPMorgan Chase & Co. lifted its holdings in Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 4,316.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,062,313 shares of the basic materials company’s stock after purchasing an additional 1,038,261 shares during the quarter. JPMorgan Chase & Co. owned 0.05% of Turquoise Hill Resources worth $2,253,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TRQ. Tower Research Capital LLC TRC lifted its position in shares of Turquoise Hill Resources by 38.6% during the second quarter. Tower Research Capital LLC TRC now owns 84,942 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 23,671 shares during the last quarter. Korea Investment CORP lifted its position in shares of Turquoise Hill Resources by 48.8% during the second quarter. Korea Investment CORP now owns 103,735 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 34,000 shares during the last quarter. Signition LP bought a new stake in shares of Turquoise Hill Resources during the third quarter worth $490,000. Mizuho Securities USA LLC bought a new stake in shares of Turquoise Hill Resources during the third quarter worth $530,000. Finally, Pinebridge Investments L.P. bought a new stake in shares of Turquoise Hill Resources during the second quarter worth $1,044,000. Institutional investors own 34.56% of the company’s stock.
Shares of NYSE:TRQ traded up $0.01 on Friday, hitting $1.59. 3,588,400 shares of the company’s stock were exchanged, compared to its average volume of 3,955,125. Turquoise Hill Resources Ltd has a 12 month low of $1.43 and a 12 month high of $3.58. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 8.37 and a beta of 0.89. The company has a current ratio of 5.16, a quick ratio of 4.73 and a debt-to-equity ratio of 0.50.
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its quarterly earnings data on Thursday, November 1st. The basic materials company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $247.00 million during the quarter, compared to the consensus estimate of $258.30 million. Turquoise Hill Resources had a return on equity of 4.41% and a net margin of 33.28%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share.
Separately, CIBC reiterated a “buy” rating on shares of Turquoise Hill Resources in a research report on Tuesday, November 6th.
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About Turquoise Hill Resources
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.
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