Turquoise Hill Resources (TRQ) Issues Quarterly Earnings Results
Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) released its quarterly earnings results on Wednesday. The basic materials company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03, Morningstar.com reports. The company had revenue of $353.00 million for the quarter, compared to analyst estimates of $295.94 million. Turquoise Hill Resources had a return on equity of 4.97% and a net margin of 34.84%. The firm’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share.
NYSE:TRQ traded up $0.04 on Thursday, hitting $1.32. 180,837 shares of the stock were exchanged, compared to its average volume of 5,992,506. The firm has a market capitalization of $2.68 billion, a PE ratio of 6.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 6.60 and a quick ratio of 6.14. Turquoise Hill Resources has a fifty-two week low of $1.23 and a fifty-two week high of $3.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp purchased a new position in Turquoise Hill Resources in the fourth quarter valued at about $30,000. Wetherby Asset Management Inc. acquired a new stake in shares of Turquoise Hill Resources during the 4th quarter worth approximately $34,000. Geode Capital Management LLC raised its position in shares of Turquoise Hill Resources by 35.6% during the 4th quarter. Geode Capital Management LLC now owns 25,229 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 6,624 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Turquoise Hill Resources by 52.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,906 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 9,257 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of Turquoise Hill Resources during the 4th quarter worth approximately $48,000. 35.60% of the stock is owned by institutional investors.
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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