Turquoise Hill Resources (TRQ) to Release Earnings on Tuesday

Turquoise Hill Resources (NYSE:TRQ – Get Rating) (TSE:TRQ) will announce its earnings results after the market closes on Tuesday, May 10th. Investors interested in registering for the company’s conference call can do so using this link.

Turquoise Hill Resources (NYSE:TRQ – Get Rating) (TSE:TRQ) last issued its quarterly earnings data on Wednesday, March 2nd. The basic materials company reported $0.78 earnings per share for the quarter. Turquoise Hill Resources had a return on equity of 5.89% and a net margin of 26.63%. The firm had revenue of $503.90 million during the quarter.

NYSE:TRQ traded up $0.59 during trading hours on Tuesday, reaching $28.24. 38,765 shares of the stock were exchanged, compared to its average volume of 721,627. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $26.82 and a 200-day simple moving average of $19.58. Turquoise Hill Resources has a 52 week low of $9.75 and a 52 week high of $30.89. The stock has a market capitalization of $5.68 billion, a P/E ratio of 10.80 and a beta of 1.81.

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its stake in Turquoise Hill Resources by 55.2% during the second quarter. Morgan Stanley now owns 87,053 shares of the basic materials company’s stock valued at $1,468,000 after acquiring an additional 30,961 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Turquoise Hill Resources by 30.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,866 shares of the basic materials company’s stock worth $441,000 after acquiring an additional 7,022 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Turquoise Hill Resources in the 3rd quarter worth approximately $246,000. Renaissance Technologies LLC acquired a new position in Turquoise Hill Resources during the 4th quarter worth $1,823,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in Turquoise Hill Resources during the 4th quarter worth $4,833,000. Institutional investors and hedge funds own 34.39% of the company’s stock.

A number of research analysts have commented on TRQ shares. Citigroup raised Turquoise Hill Resources from a “sell” rating to a “hold” rating and increased their target price for the stock from C$12.50 to C$21.00 in a report on Monday, January 10th. BMO Capital Markets raised Turquoise Hill Resources from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $20.00 to $34.00 in a report on Tuesday, March 15th. Canaccord Genuity Group raised Turquoise Hill Resources from a “hold” rating to a “buy” rating and raised their price target for the stock from C$21.00 to C$28.00 in a report on Tuesday, January 25th. StockNews.com assumed coverage on Turquoise Hill Resources in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Eight Capital raised Turquoise Hill Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.17.

About Turquoise Hill Resources (Get Rating)

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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