Bank of Montreal Can Sells 18,156 Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ)

Bank of Montreal Can lowered its stake in Turquoise Hill Resources Ltd. (NYSE:TRQGet Rating) (TSE:TRQ) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Great West Life Assurance Co. Can lifted its stake in Turquoise Hill Resources by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 10,342 shares of the basic materials company’s stock valued at $329,000 after buying an additional 389 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Turquoise Hill Resources by 3.8% in the second quarter. Van ECK Associates Corp now owns 36,016 shares of the basic materials company’s stock worth $965,000 after purchasing an additional 1,304 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Turquoise Hill Resources by 3.1% in the first quarter. CIBC Asset Management Inc now owns 88,925 shares of the basic materials company’s stock worth $2,673,000 after purchasing an additional 2,644 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Turquoise Hill Resources by 17.2% in the second quarter. National Bank of Canada FI now owns 21,972 shares of the basic materials company’s stock worth $585,000 after purchasing an additional 3,228 shares in the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Turquoise Hill Resources by 4.7% in the first quarter. Cibc World Market Inc. now owns 77,968 shares of the basic materials company’s stock worth $2,342,000 after purchasing an additional 3,493 shares in the last quarter. Institutional investors own 34.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on TRQ shares. TD Securities boosted their price objective on shares of Turquoise Hill Resources from C$34.00 to C$40.00 in a research report on Thursday, August 25th. Canaccord Genuity Group lowered shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$42.00 to C$43.00 in a research report on Thursday, October 13th. Canaccord Genuity Group lowered shares of Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Scotiabank lowered shares of Turquoise Hill Resources from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 13th. Finally, StockNews.com started coverage on shares of Turquoise Hill Resources in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Turquoise Hill Resources presently has a consensus rating of “Hold” and an average target price of $35.29.

Turquoise Hill Resources Price Performance

Shares of TRQ opened at $31.67 on Thursday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 11.35 and a beta of 1.38. Turquoise Hill Resources Ltd. has a 1-year low of $13.60 and a 1-year high of $32.09. The company’s fifty day simple moving average is $30.02 and its 200 day simple moving average is $28.12. The company has a current ratio of 0.42, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35.

About Turquoise Hill Resources

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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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