Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.75, but opened at $2.78. Turquoise Hill Resources shares last traded at $2.78, with a volume of 3476412 shares.

Separately, Scotiabank reissued a “buy” rating and issued a $5.50 price target on shares of Turquoise Hill Resources in a report on Monday, November 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $4.75.

The stock has a market capitalization of $5,540.00, a price-to-earnings ratio of 25.27 and a beta of 0.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.85 and a quick ratio of 6.38.

Institutional investors have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC purchased a new stake in shares of Turquoise Hill Resources in the 4th quarter valued at $137,000. American International Group Inc. purchased a new stake in shares of Turquoise Hill Resources in the 4th quarter valued at $185,000. Verition Fund Management LLC purchased a new stake in shares of Turquoise Hill Resources in the 2nd quarter valued at $155,000. Virtu KCG Holdings LLC boosted its stake in shares of Turquoise Hill Resources by 25.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 66,985 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 13,416 shares in the last quarter. Finally, Korea Investment CORP purchased a new stake in shares of Turquoise Hill Resources in the 3rd quarter valued at $215,000. 33.58% of the stock is owned by institutional investors.

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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).

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