Parametric Portfolio Associates LLC raised its position in Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) by 101.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 650,834 shares of the basic materials company’s stock after buying an additional 327,335 shares during the period. Parametric Portfolio Associates LLC’s holdings in Turquoise Hill Resources were worth $1,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. World Asset Management Inc increased its stake in Turquoise Hill Resources by 1.5% in the first quarter. World Asset Management Inc now owns 125,401 shares of the basic materials company’s stock worth $385,000 after buying an additional 1,806 shares in the last quarter. Bourgeon Capital Management LLC increased its stake in Turquoise Hill Resources by 7.6% in the first quarter. Bourgeon Capital Management LLC now owns 70,462 shares of the basic materials company’s stock worth $216,000 after buying an additional 5,000 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Turquoise Hill Resources by 11.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 55,537 shares of the basic materials company’s stock worth $170,000 after buying an additional 5,579 shares in the last quarter. Comerica Bank increased its stake in Turquoise Hill Resources by 9.6% in the fourth quarter. Comerica Bank now owns 173,325 shares of the basic materials company’s stock worth $594,000 after buying an additional 15,154 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Turquoise Hill Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 1,298,570 shares of the basic materials company’s stock worth $3,987,000 after buying an additional 29,318 shares in the last quarter. Institutional investors own 31.32% of the company’s stock.

Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) traded down 0.61% during midday trading on Monday, hitting $3.26. The stock had a trading volume of 10,287,781 shares. The stock has a 50 day moving average price of $2.77 and a 200-day moving average price of $2.99. Turquoise Hill Resources Ltd. has a 52 week low of $2.44 and a 52 week high of $3.80. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 54.33 and a beta of 0.39.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last posted its quarterly earnings results on Monday, July 31st. The basic materials company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $203.70 million for the quarter, compared to the consensus estimate of $223.14 million. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The firm’s quarterly revenue was down 38.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. Equities research analysts anticipate that Turquoise Hill Resources Ltd. will post ($0.01) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Parametric Portfolio Associates LLC Has $2 Million Position in Turquoise Hill Resources Ltd. (NYSE:TRQ)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/07/parametric-portfolio-associates-llc-buys-327335-shares-of-turquoise-hill-resources-ltd-nysetrq-updated-updated-updated.html.

A number of research firms have recently commented on TRQ. Royal Bank Of Canada reissued a “hold” rating and issued a $4.00 price objective on shares of Turquoise Hill Resources in a research note on Wednesday, August 2nd. BidaskClub raised Turquoise Hill Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. ValuEngine downgraded Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group reissued a “neutral” rating on shares of Turquoise Hill Resources in a research note on Tuesday, April 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Turquoise Hill Resources currently has an average rating of “Hold” and a consensus price target of $4.90.

About Turquoise Hill Resources

Turquoise Hill Resources Ltd. 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 held through approximately 65% interest in Oyu Tolgoi LLC (Oyu Tolgoi) and the remaining approximately 35% interest is held by Erdenes Oyu Tolgoi LLC (Erdenes).

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

Receive News & Stock Ratings for Turquoise Hill Resources Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turquoise Hill Resources Ltd. and related stocks with our FREE daily email newsletter.