Bank of Montreal Can Reduces Stock Position in Turquoise Hill Resources Ltd. (NYSE:TRQ)

Bank of Montreal Can lessened its holdings in Turquoise Hill Resources Ltd. (NYSE:TRQGet Rating) (TSE:TRQ) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 337,265 shares of the basic materials company’s stock after selling 18,156 shares during the quarter. Bank of Montreal Can’s holdings in Turquoise Hill Resources were worth $11,738,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TRQ. Citigroup Inc. purchased a new position in Turquoise Hill Resources in the first quarter valued at $125,000. FNY Investment Advisers LLC purchased a new position in shares of Turquoise Hill Resources during the second quarter worth about $167,000. Lincoln National Corp purchased a new position in shares of Turquoise Hill Resources during the first quarter worth about $220,000. Virtu Financial LLC purchased a new position in shares of Turquoise Hill Resources during the first quarter worth about $244,000. Finally, Seven Eight Capital LP purchased a new position in shares of Turquoise Hill Resources during the first quarter worth about $292,000. Hedge funds and other institutional investors own 34.39% of the company’s stock.

Turquoise Hill Resources Stock Performance

NYSE TRQ opened at $31.67 on Thursday. The company has a quick ratio of 0.24, a current ratio of 0.42 and a debt-to-equity ratio of 0.35. Turquoise Hill Resources Ltd. has a 52-week low of $13.60 and a 52-week high of $32.09. The business’s 50-day moving average price is $30.02 and its 200 day moving average price is $28.12. The firm has a market cap of $6.37 billion, a P/E ratio of 11.35 and a beta of 1.38.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Securities raised their price objective on Turquoise Hill Resources from C$34.00 to C$40.00 in a report on Thursday, August 25th. Canaccord Genuity Group lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$42.00 to C$43.00 in a report on Thursday, October 13th. StockNews.com assumed coverage on Turquoise Hill Resources in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Canaccord Genuity Group lowered Turquoise Hill Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Finally, Scotiabank lowered Turquoise Hill Resources from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 13th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.29.

Turquoise Hill Resources Company Profile

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Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company primarily explores for copper, gold, and silver deposits. It engages in the operation and development of the Oyu Tolgoi copper-gold mine located in Southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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Institutional Ownership by Quarter for Turquoise Hill Resources (NYSE:TRQ)

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