Turquoise Hill Resources (TRQ) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) released its earnings results on Wednesday. The basic materials company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03, Morningstar.com reports. Turquoise Hill Resources had a net margin of 34.84% and a return on equity of 4.97%. The firm had revenue of $353.00 million during the quarter, compared to analyst estimates of $295.94 million. During the same quarter in the previous year, the business earned $0.04 EPS. The business’s quarterly revenue was up 43.5% compared to the same quarter last year.

Shares of NYSE TRQ traded up $0.04 during mid-day trading on Thursday, reaching $1.32. 180,837 shares of the company’s stock traded hands, compared to its average volume of 5,992,506. The stock has a market capitalization of $2.68 billion, a P/E ratio of 6.33 and a beta of 0.83. Turquoise Hill Resources has a 1-year low of $1.23 and a 1-year high of $3.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 6.60 and a quick ratio of 6.14.

A number of equities analysts recently weighed in on TRQ shares. CIBC reissued a “buy” rating on shares of Turquoise Hill Resources in a research note on Sunday, January 20th. ValuEngine raised shares of Turquoise Hill Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Turquoise Hill Resources by 4,316.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,313 shares of the basic materials company’s stock valued at $2,253,000 after purchasing an additional 1,038,261 shares in the last quarter. Jane Street Group LLC boosted its holdings in Turquoise Hill Resources by 98.3% during the 3rd quarter. Jane Street Group LLC now owns 136,732 shares of the basic materials company’s stock valued at $290,000 after acquiring an additional 67,797 shares during the period. Vanguard Group Inc. boosted its holdings in Turquoise Hill Resources by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 26,952,156 shares of the basic materials company’s stock valued at $57,139,000 after acquiring an additional 808,720 shares during the period. Marshall Wace North America L.P. boosted its holdings in Turquoise Hill Resources by 1,328.2% during the 3rd quarter. Marshall Wace North America L.P. now owns 167,100 shares of the basic materials company’s stock valued at $356,000 after acquiring an additional 155,400 shares during the period. Finally, Vanguard Group Inc boosted its holdings in Turquoise Hill Resources by 3.1% during the 3rd quarter. Vanguard Group Inc now owns 26,952,156 shares of the basic materials company’s stock valued at $57,139,000 after acquiring an additional 808,720 shares during the period. Hedge funds and other institutional investors own 35.60% of the company’s stock.

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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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Earnings History for Turquoise Hill Resources (NYSE:TRQ)

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