Turquoise Hill Resources (TRQ) Posts Earnings Results, Beats Estimates By $0.02 EPS

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) released its quarterly earnings data on Thursday. The basic materials company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, Briefing.com reports. The company had revenue of $346.20 million during the quarter, compared to the consensus estimate of $318.72 million. Turquoise Hill Resources had a net margin of 33.28% and a return on equity of 4.41%. The firm’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS.

Shares of NYSE:TRQ traded up $0.02 during midday trading on Friday, reaching $1.71. 895,328 shares of the company’s stock were exchanged, compared to its average volume of 6,410,820. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 8.84 and a beta of 0.89. Turquoise Hill Resources has a 12 month low of $1.43 and a 12 month high of $3.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.73 and a current ratio of 5.16.

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



Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Turquoise Hill Resources by 35.6% during the 4th quarter. Geode Capital Management LLC now owns 25,229 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 6,624 shares during the period. Norges Bank bought a new position in Turquoise Hill Resources during the 4th quarter valued at about $12,865,000. Nordea Investment Management AB lifted its holdings in Turquoise Hill Resources by 1,219.7% during the 4th quarter. Nordea Investment Management AB now owns 341,800 shares of the basic materials company’s stock valued at $769,000 after purchasing an additional 315,900 shares during the last quarter. Legal & General Group Plc lifted its holdings in Turquoise Hill Resources by 4.6% during the 4th quarter. Legal & General Group Plc now owns 6,254,283 shares of the basic materials company’s stock valued at $10,142,000 after purchasing an additional 277,193 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Turquoise Hill Resources during the 4th quarter valued at about $87,000. 35.39% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This report was first posted by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://dakotafinancialnews.com/2019/03/15/turquoise-hill-resources-trq-posts-earnings-results-beats-estimates-by-0-02-eps.html.

About Turquoise Hill Resources

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company explores for copper, gold, silver, and molybdenum deposits. It primarily develops and operates the Oyu Tolgoi mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

Read More: How a Put Option Works

Earnings History for Turquoise Hill Resources (NYSE:TRQ)

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