Morgan Stanley decreased its position in shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) by 38.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,437,975 shares of the basic materials company’s stock after selling 890,859 shares during the period. Morgan Stanley’s holdings in Turquoise Hill Resources were worth $4,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRQ. Marshall Wace LLP boosted its stake in Turquoise Hill Resources by 21.6% in the first quarter. Marshall Wace LLP now owns 160,242 shares of the basic materials company’s stock valued at $481,000 after buying an additional 28,432 shares during the last quarter. Vanguard Group Inc. boosted its stake in Turquoise Hill Resources by 4.2% in the first quarter. Vanguard Group Inc. now owns 18,646,021 shares of the basic materials company’s stock valued at $57,243,000 after buying an additional 754,812 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Turquoise Hill Resources by 45.1% in the first quarter. Mackenzie Financial Corp now owns 5,526,977 shares of the basic materials company’s stock valued at $16,968,000 after buying an additional 1,716,600 shares during the last quarter. Global X Management Co. LLC boosted its stake in Turquoise Hill Resources by 8.9% in the first quarter. Global X Management Co. LLC now owns 577,636 shares of the basic materials company’s stock valued at $1,773,000 after buying an additional 47,406 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Turquoise Hill Resources by 13.9% in the first quarter. Legal & General Group Plc now owns 3,670,146 shares of the basic materials company’s stock valued at $11,182,000 after buying an additional 447,110 shares during the last quarter. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Turquoise Hill Resources Ltd. (NYSE:TRQ) traded down 0.32% during mid-day trading on Friday, reaching $3.07. The company’s stock had a trading volume of 1,345,523 shares. Turquoise Hill Resources Ltd. has a one year low of $2.44 and a one year high of $3.80. The firm’s 50 day moving average is $2.93 and its 200-day moving average is $2.99. The stock has a market cap of $6.18 billion, a P/E ratio of 51.17 and a beta of 0.39.

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

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TRQ has been the topic of several recent analyst reports. BidaskClub raised Turquoise Hill Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $4.00 target price on shares of Turquoise Hill Resources in a research note on Wednesday, August 2nd. Credit Suisse Group reissued a “neutral” rating on shares of Turquoise Hill Resources in a research note on Tuesday, April 18th. Finally, ValuEngine cut Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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).

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

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