Comerica Bank Bought 15,154 Shares of Turquoise Hill Resources Ltd (TRQ)

Comerica Bank Bought 15,154 Shares of Turquoise Hill Resources Ltd (TRQ)

Comerica Bank raised its position in shares of Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) by 9.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 173,325 shares of the company’s stock after buying an additional 15,154 shares during the period. Comerica Bank’s holdings in Turquoise Hill Resources were worth $594,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of Turquoise Hill Resources by 9,594.1% in the third quarter. Mackenzie Financial Corp now owns 3,639,464 shares of the company’s stock worth $10,809,000 after buying an additional 3,601,921 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Turquoise Hill Resources during the fourth quarter worth $11,566,000. Kopernik Global Investors LLC increased its position in shares of Turquoise Hill Resources by 13.9% in the third quarter. Kopernik Global Investors LLC now owns 11,149,464 shares of the company’s stock worth $33,115,000 after buying an additional 1,360,761 shares in the last quarter. Emerald Acquisition Ltd. increased its position in shares of Turquoise Hill Resources by 16.4% in the third quarter. Emerald Acquisition Ltd. now owns 4,407,243 shares of the company’s stock worth $13,089,000 after buying an additional 620,784 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its position in shares of Turquoise Hill Resources by 6,954.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 411,885 shares of the company’s stock worth $1,330,000 after buying an additional 406,046 shares in the last quarter. Institutional investors own 30.50% of the company’s stock.

Turquoise Hill Resources Ltd (NYSE:TRQ) opened at 3.07 on Friday. The firm has a market cap of $6.18 billion, a P/E ratio of 30.70 and a beta of 0.74. The stock has a 50 day moving average price of $3.27 and a 200-day moving average price of $3.26. Turquoise Hill Resources Ltd has a one year low of $2.44 and a one year high of $3.80.

Turquoise Hill Resources (NYSE:TRQ) last posted its quarterly earnings results on Monday, March 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $215.65 million. Turquoise Hill Resources had a return on equity of 3.78% and a net margin of 21.61%. The firm’s quarterly revenue was down 36.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share.

Turquoise Hill Resources Company Profile

Turquoise Hill Resources Ltd. (Turquoise Hill) 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 located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.

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